The value of the Naira increased from N1,375 on the parallel market on Wednesday to N1,370 per dollar yesterday.

However, on the Nigerian Foreign Exchange Market (NFEM), the naira lost value to N1,329 per dollar.

The indicative exchange rate for the naira increased to N1,329 per dollar from N1,328 per dollar on Wednesday, according to data from the Central Bank of Nigeria, or CBN, indicating a N1 appreciation for the local currency.

As a result, the difference between the official and parallel markets shrank from N47 to N41 per dollar on Wednesday.

Interbank turnover in NFEM dropped from $279.2 million on Wednesday to $105.95 million, a 62.05 percent decrease.

Source