The Naira saw a drop yesterday to N1,415 per dollar in the parallel market, down from N1,410 per dollar on Monday.
Similarly, in the Nigerian Foreign Exchange Market (NAFEM), the Naira depreciated to N1,416.57 per dollar.
According to data from FMDQ, the indicative exchange rate for NAFEM decreased to N1,416.57 per dollar from N1,354.21 per dollar on Monday, marking a depreciation of N62.36 for the Naira.
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Consequently, the margin between the parallel market and NAFEM rates narrowed to N1.57 per dollar from N55.79 per dollar on Monday.
