Naira falls to N1,523 per dollar at parallel market
On Monday, the value of the naira declined on the official and black markets. The naira lost value relative to the US dollar in the official Nigerian Autonomous Foreign Exchange Market, closing at 1,523.85 from the previous close of 1,509.67.
For investors, exporters, and end users, NAFEM is the market trading segment where forex deals can be executed at exchange rates set by the state of the market.
The intraday high and low of the naira against the dollar were 1,540.75 and 1,474.05, respectively. With $133.46 million in turnover, it was higher than Friday's $116.88 million, suggesting that market liquidity had improved.
The naira lost 0.33 percent of its value on the parallel market, closing the day at 1,528 per dollar as opposed to 1,523 on Friday.
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