Data released by the Central Bank of Nigeria (CBN) showed that the indicative exchange rate in the Nigerian Foreign Exchange Market (NFEM) rose to ₦1,331.5 per dollar, compared with ₦1,330 recorded at the end of the previous trading period.
The movement represents a marginal depreciation of ₦1.5 per dollar in the official market.
In the parallel market, the naira also weakened to ₦1,382 per dollar from ₦1,378 previously.
The difference between the parallel and official market rates subsequently widened to ₦50.5 per dollar, compared with ₦48 previously.
Meanwhile, trading activity in the official foreign exchange market recorded a sharp decline.
Interbank turnover in the NFEM fell by 77.7 per cent to $24.73 million, down from $111.06 million recorded at the close of last week’s trading.
The decline in turnover came amid the movement in the naira’s exchange rate across both foreign exchange windows.
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