The naira gained slightly against the U.S. dollar at the official market on Monday, data posted on the FMDQ Security Exchange where forex is officially traded showed.This represents a N0.25 or 0.06 per cent from N411.75 rate it exchanged hands with the greenback currency in the previous session on Friday last week.
It occurred as the local unit touched an intraday low of N412.29, then oscillated to a high of N400.00 before closing at N411.50 on Monday. The Over-the-Counter forex turnover skyrocketed significantly by 138.10 per cent, with $176.13 million recorded at the end of the market session as against the $73.99 million published in the previous session of the market segment on Friday last week.
However, the naira maintained stability against the U.S dollar at the parallel market on Monday after it fell slightly in the previous session on Friday last week., a website that collates parallel market rates in Lagos showed that the naira closed again at N505.00 per $1 at the black market window, the same rate it traded last week Friday.
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