The Naira's value has experienced fluctuations in recent days, with the parallel market exchange rate depreciating to N1,510 per dollar from N1,500 per dollar on Thursday. However, there was a contrasting trend in the Nigerian Foreign Exchange Market (NAFEM), where the naira appreciated to N1,469.97 per dollar.

According to data from FMDQ, the indicative exchange rate for NAFEM fell to N1,469.97 per dollar from N1,479.47 per dollar on Thursday, indicating a N9.5 appreciation for the naira. This divergence in exchange rates has widened the gap between the official and parallel market rates to N40.03 per dollar from N20.53 per dollar on Thursday.

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