Yesterday, the value of the naira saw a notable rise to N1,450 against the dollar in the informal exchange sector, up from N1,580 per dollar as reported on Tuesday.
In a similar vein, the naira also saw an increase in value to N1,492.61 per dollar within the Nigerian Foreign Exchange Market (NAFEM), marking a difference of N42.61 when compared to the rates in the parallel market.
According to information from FMDQ, the suggested exchange rate for NAFEM dropped to N1,492.61 per dollar from a previous rate of N1,560.57 per dollar on Tuesday, representing a gain of N67.9 for the naira.
As a result, the gap between the informal market rate and NAFEM expanded to N42.61 per dollar, an increase from the N29.43 per dollar gap noted on Tuesday.
