local currency appreciated by 0.98 percent to N1,525 on July 5 — from the N1,535 per dollar traded on July 4.
Currency traders, known as bureau de change operators, quoted the buying rate of the naira as N1,500 and the selling rate at N1,525 — leaving a N25 profit margin.According to FMDQ Exchange, a platform that oversees official FX trading in Nigeria, the local currency exchanged for N1,509 per dollar on July 5 — a 0.7 percent rise from N1,520 traded the previous day.
The FX situation, according to Timi Bomodi, comptroller of Seme command, Nigeria Customs Service , on June 9, has made However, on May 29, Mojisola Adeyeye, director-general of the National Agency for Food and Drug Administration and Control , saidClick on the link below to join TheCable Channel on WhatsApp for your Breaking News, Business Analysis, Politics, Fact Check, Sports and Entertainment News.DOWNLOAD: Court judgment that faulted Edo PDP over exclusion of 381 delegates from guber primary