The Naira appreciates to N1,545 per dollar in the parallel market.

On Friday, the Naira appreciated to N1,545 per dollar in the parallel market, up from N1,550 per dollar on Thursday.

However, in the Nigerian Autonomous Foreign Exchange Market (NAFEM), the Naira depreciated to N1,563.8 per dollar.

According to data from FMDQ, the indicative exchange rate for NAFEM rose to N1,563.8 per dollar from N1,554.55 per dollar on Thursday, reflecting a N9.25 depreciation for the Naira.

The market experienced an intraday high of N1,586 per dollar and an intraday low of N1,496.46 per dollar, resulting in an N89.54 fluctuation.

The volume of dollars traded in the window dropped by 63.7 percent, falling to $126.5 million from $348.82 million traded on Thursday.

As a result, the gap between the parallel market and NAFEM rates narrowed to N18.8 per dollar from N54.55 per dollar on Thursday.