On Wednesday, the Nigerian naira gained ground 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, marking a gain of N61.38 compared to the previous day's closing rate of N1,520.40/$1.
Meanwhile, the parallel market rate closed at N1,540/$1 by the end of trading on Wednesday, reflecting a loss of N5 compared to the previous day's rate of N1,535/$1.
The daily turnover saw a significant increase in transactions, rising by 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, while the lowest spot rate recorded was N1,401.
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