The Naira strengthened more throughout the official window and finished on a higher note compared to how it performed in the parallel market.
For a span of five days, the value of the naira at the parallel market was steady at N1,600. But yesterday, the official Nigerian Autonomous Foreign Exchange (NAFEM) saw a rise of N5.41 to close at N1,597.34, up from N1,602.75 on Friday.
With a daily turnover of $140.45 million yesterday, it was 2.19 percent more than the $137.43 million indicated on Friday.
Also, the highest spot rate yesterday was pegged at N1640, while the lowest spot rate recorded was N1,400. [CONTINUE READING HERE]
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