The Nigerian Naira continues to weaken, dropping to N1,620 per dollar in the parallel market, down from N1,615 the previous day. This depreciation is mirrored in the Nigerian Autonomous Foreign Exchange Market (NAFEM), where the Naira fell to N1,606.56 per dollar. Despite this downturn, the trading volume in NAFEM saw a slight rise, increasing by 2.5 percent. As a result, the gap between parallel market and NAFEM rates narrowed to N13.41 per dollar, a significant reduction from earlier margins.
