The naira on Monday, May 6, depreciated further to N1,430 per dollar in the parallel market, from N1,350 per dollar closed on Friday.
According to THECABLE report, in Lagos bureau de change (BDC) operators, put the buying rate of the greenback at N1,400 and the selling price at N1,430 — leaving a profit margin of N30.
At the official window, the local currency appreciated by 3.30 percent to N1,354.21 on Monday — from N1,400.40 on May 3.
During the trading period, the dollar exchanged for as high as N1,441 and as low as N1,285 according to data from FMDQ Exchange, a platform that oversees FX trading in Nigeria.
