The Naira made significant gains in the official foreign exchange market on Monday, starting the workday stronger.
According to FMDQ data, the Naira’s value increased to N838.95 per dollar from N890.54 on Friday, reflecting a notable gain of N51.79 or 5.79%.
Conversely, there was a slight depreciation in the Naira at the parallel forex market, with an exchange rate of N1,265 per US dollar, indicating a 0.40% decrease from the previous day’s closing rate.
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