On Thursday, October 24, the Naira depreciated to N1,739 per dollar in the parallel market, up from N1,735 the previous day. In contrast, the currency appreciated in the Nigerian Autonomous Foreign Exchange Market (NAFEM), increasing to N1,601.2 per dollar from N1,654.09, representing a gain of N52.89.
The official market saw a significant rise in dollar trading volume, with a turnover of $230.99 million, a 69 percent increase from $136.68 million on Wednesday. Additionally, the gap between the parallel market and NAFEM rates widened to N137.8 per dollar, compared to N80.91 the day before.
