The naira on Wednesday, gained on the official FX window while it continued to decline on the parallel FX market.
At the Nigerian Autonomous Foreign Exchange (NAFEM) window, the naira closed at N1,459.02/$1, which was a N61.38 gain compared to the N1,520.40/$1 which it closed on Tuesday.
By the end of trading on Wednesday, the parallel market rate closed at N1,540/$1, which was a loss of N5 compared to N1,535/$1, which it exchanged on Tuesday.
The daily turnover recorded an increase in transactions of 124 percent, to $289.14 million on Wednesday, compared to the $128.76 million recorded on Monday.
The highest spot rate observed on Wednesday stood at N1,593, with the lowest spot rate recorded at N1,401
James Emejo and Nume Ekeghe
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