The Naira weakened further in the parallel market today, dropping to N1,725 per dollar from N1,710 per dollar recorded on Thursday.
In contrast, the Naira saw an improvement in the Nigerian Autonomous Foreign Exchange Market (NAFEM), appreciating to N1,600.78 per dollar.
According to data from FMDQ, the indicative exchange rate for NAFEM strengthened to N1,600.78 per dollar from the previous rate of N1,660.49 per dollar on Thursday, marking a N59.71 appreciation.
Meanwhile, dollar trading volume in the official market increased by 6.2%, with $350.72 million exchanged, up from $330.18 million traded on Thursday.