At the end of trading on Monday, the Nigerian Naira consolidated it’s amazing performance over the week against the dollar both at the official and parallel markets.
Data released by the Central Bank of Nigeria (CBN) revealed that in the Nigerian Foreign Exchange Market (NFEM), the naira traded at 1,508.5889 per dollar.
This figure is very close to the amount the local currency closed against the dollar on Friday wheh it exchanged for 1,508.6637.
The naira on Monday appreciated against the dollar in one month, gaining N105 year-to-date in the parallel market, popularly called black market.
In the parallel market, popularly known as the black market, data collated from the online trading platforms and street traders showed that the naira was quoted at N1,560 against the dollar on Monday as against N1,565 it exchanged on Friday.
