In an unexpected turn, the naira stumbled to N1,240 per dollar in the unofficial market, marking a decline from Wednesday’s N1,235 per dollar.
Contrastingly, the official Nigerian Foreign Exchange Market (NAFEM) witnessed a boost as the naira gained ground at N895.23 per dollar. This shift widened the gap between official and parallel rates, now standing at N344.77 per dollar, a notable leap from Wednesday’s N199.88 per dollar.
FMDQ’s data unveiled a significant drop in the indicative exchange rate for NAFEM, sliding to N895.23 per dollar from Wednesday’s N1,035.12 per dollar. This signals a noteworthy N139.77 appreciation for the naira.
