Naira Makes U-Turn Declines at Parallel Market, Appreciates at Official Window

*Records 2% decline in daily turnover 

Nume Ekeghe

The naira yesterday made a U-turn as it marginally declined at the parallel to N1,605/$1 from N1,600/$1 it exchanged on Wednesday.
However, the official Nigerian Autonomous Foreign Exchange (NAFEM) recorded gain, closing at N1,608.98 signifying a N6.96 gain compared to N1, 615.94 it closed on Wednesday.
Notably, the daily turnover recorded yesterday was$243.65 million indicating a 2.05 per cent decline from $248.75 million, quoted on Wednesday.
Also, the highest spot rate yesterday was pegged at N1625, while the lowest spot rate recorded was N1,576.