The parallel market now sees the Naira trading at N1,240 to a dollar, a slight increase from N1,235 per dollar on January 3. Meanwhile, in the Nigerian Foreign Exchange Market (NAFEM), the Naira strengthened to N895.23 per dollar, resulting in a wider gap between the official and parallel market rates, reaching N344.77 per dollar on January 4.
The indicative exchange rate for NAFEM dropped to N895.23 per dollar from N1,035.12 per dollar on Wednesday, indicating a N139.77 appreciation for the Naira.
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