The Naira has dropped to N1,739 per dollar in the parallel market, down from N1,735 per dollar on Wednesday.
According to data from FMDQ, the Naira strengthened in the Nigerian Autonomous Foreign Exchange Market (NAFEM), rising to N1,601.2 per dollar from N1,654.09 per dollar the previous day, representing an appreciation of N52.89.
Additionally, the turnover of dollars traded in the official market surged by 69% to $230.99 million, up from $136.68 million on Wednesday.
Data released on Thursday evening, October 24, also revealed that the gap between the parallel market rate and the NAFEM rate increased to N137.8 per dollar, compared to N80.91 per dollar the day before.
