On Friday, the Nigerian Naira strengthened to N1,245 per dollar in the parallel market, up from N1,250 per dollar the previous day.
Similarly, in the Nigerian Foreign Exchange Market (NAFEM), the Naira saw an increase to N1,251.05 per dollar.
According to data from FMDQ, the indicative exchange rate for NAFEM decreased to N1,251.05 per dollar from N1,255.07 per dollar on Thursday, signaling a N4.02 appreciation for the Naira.
Market activity saw a high of N1,281 per dollar and a low of N1,220 per dollar, resulting in a N61 margin.
Dollar trading volume surged by 78.6 percent to $248.27 million compared to $138.99 million on Thursday.
As a result, the margin between the parallel market and NAFEM rates widened to N6.05 per dollar from N5.07 per dollar on Thursday.
