Yesterday, the Naira strengthened in the parallel market to N1,480 per dollar, up from N1,540 per dollar on Thursday.
Similarly, the Naira rose to N1,497.33 per dollar on the Nigerian Autonomous Foreign Exchange Market (NAFEM), outperforming the parallel market rate by N10.33.
According to FMDQ data, the indicative exchange rate for NAFEM declined to N1,497.33 per dollar from N1,533.99 per dollar on Thursday, indicating a naira appreciation of N54.66.
The market recorded an intraday high of N1,555 per dollar and an intraday low of N1,415 per dollar resulting in a margin of N140.
The volume of dollars traded (turnover) in NAFEM fell by 69.4 per cent to $83.5 million from $272.86 million traded the previous day.
Consequently, the margin between the parallel market and NAFEM rates widened to N10.33 per dollar from N6.01 per dollar on Thursday.