On Monday, the Naira weakened in the parallel market, falling to N1,600 per dollar from N1,590 last weekend.
In contrast, the Naira appreciated in the Nigerian Autonomous Foreign Exchange Market (NAFEM), rising to N1,607.15 per dollar from N1,617.08 last Friday.
The data from FMDQ shows a N9.93 appreciation in the NAFEM rate. However, the volume of dollars traded in the market decreased by 41.3% to $77.09 million from $131.55 million.
As a result, the gap between the parallel market rate and the NAFEM rate narrowed to N7.15 per dollar from N27.08 last week.