The naira has on Monday, October 21, 2024, appreciated to N1,715 per dollar in the parallel market from N1,725 per dollar last weekend.

According to the data from the FMDQ indicated that the indicative exchange rate for NAFEM fell to N1,603.16 per dollar from N1,600.78 per dollar last week Friday, showing a N2.38 depreciation for the naira.

The volume of dollars traded (turnover) in the official market grew by 2.4 per cent to $359.22 million from $350.72 million traded last weekend.

Consequently, the margin between the parallel market and the NAFEM rate narrowed to N111.84 per dollar from N124.22 per dollar last week Friday.