Naira now exchanges for N1,080$ in parallel market

In the parallel market, the value of the Naira increased from N1,230 per dollar last weekend to N1,080 per dollar yesterday.
In a similar vein, the value of the Naira increased to N1,136.04 per dollar on the Nigerian Foreign Exchange Market, or NAFEM.

The indicative exchange rate for NAFEM dropped to N1,136.04 per dollar from N1,143.38 per dollar last Friday, according to data from FMDQ, showing a N7.34 appreciation for the naira.

As a result, last Friday’s difference in the parallel market and NAFEM rates dropped to N56.04 per dollar from N86.62.