The naira fell to N885.88 per dollar in the official Nigerian Foreign Exchange Market, NAFEM, today.
According to FMDQ data, the indicative exchange rate for NAFEM increased to N885.88 per dollar on Thursday, up from N861.91 per dollar on Thursday.
This is a N23.97 depreciation of the naira.
The intraday high for the window was N1,248 per dollar, while the intraday low was N700 per dollar, resulting in a N548 per dollar spread.
Similarly, the naira declined in the parallel market to N1,225 per dollar from N1,220 per dollar on Thursday.
As a result, the difference between the official and parallel market exchange rates has shrunk to N339.12 per dollar today, from N358.09 per dollar on Thursday.
The dollar volume traded on the window decreased by 49 percent to $92.16 million on Friday, from $181.3 million on Thursday.