The naira opened sales at N784.91 on Monday and eventually closed at N756.94 per dollar, the data showed.
The rate represents a 2.43 per cent appreciation from N775.76 to a dollar the local unit exchanged last Friday. Foreign exchange turnover significantly increased from the amount recorded in the previous session on Friday last week as forex supply climbed from $54.18 million to $67.21 million.Within the business period, the naira experienced an intraday high of N651.00 and a low of N830.00 before closing at N756.94 per $1.Information gathered from the market revealed that the dollar was exchanged at N865 and above on Monday and sold at N870.00 per $1.This is against the N860.00 and 865.
“The demand for the dollar has been high; that is why the price has been going up,” a black market dealer told PREMIUM TIMES Monday evening.