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Today, the Naira experienced a slight depreciation in the parallel market, dropping to ₦1,740 per dollar from ₦1,739 per dollar on Thursday. In contrast, the Naira appreciated in the Nigerian Autonomous Foreign Exchange Market (NAFEM), where it improved to ₦1,601.2 per dollar, down from ₦1,600 per dollar previously, showing a ₦1.2 appreciation.
Additionally, trading volume in the official market surged by 23%, increasing to $284.93 million from $230.99 million traded on Thursday. As a result, the margin between the parallel market rate and the NAFEM rate has widened to ₦140 per dollar, up from ₦137.8 per dollar on Thursday.