The Naira exhibited mixed performance in currency markets on Wednesday, as it appreciated in the unofficial market but faced a decline in the Nigerian Autonomous Foreign Exchange Market (NAFEM).
In the unofficial market, the Naira saw a significant uptick, rising to N1,375 against the US dollar on Wednesday, marking a notable improvement from its previous standing at N1,500 per dollar on Tuesday.
However, the official exchange rate in NAFEM painted a different picture, with the Naira falling to N1,339.33 per dollar.
According to data from FMDQ, the indicative exchange rate for NAFEM witnessed a considerable rise, reaching N1,329.65 per dollar compared to Tuesday’s rate of N1,173.88 per dollar.
