Conversely, in the Nigerian Autonomous Foreign Exchange Market (NAFEM), the Naira appreciated to N1,658.67 per dollar.
According to data from FMDQ, the indicative exchange rate for NAFEM decreased from N1,687.52 per dollar on Wednesday, reflecting an appreciation of N28.85 for the Naira.
Additionally, the total volume of dollars traded saw a 5.5 percent drop, with turnover decreasing to $163.66 million from $173.29 million on Wednesday.
As a result, the gap between the rates in the parallel market and NAFEM expanded to N86.33 per dollar, up from N52.48 per dollar on Wednesday.