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Naira gains at official window, depreciates at parallel market

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The naira depreciated to N1,510 against the dollar at the parallel section of the foreign exchange (FX) market on Friday.

The naira depreciated to N1,510 against the dollar at the parallel section of the foreign exchange market on Friday.Currency traders, also known as street traders, in Lagos, quoted the buying rate of the local currency at N1,485/$ and the selling rate at N1,510/$ — leaving a profit margin of N25.

the pains caused by ongoing monetary and fiscal reforms will soon be over if Nigerians remain focused on supporting the policies.“As the Governor of the Central Bank of Nigeria, I remain committed to repositioning the bank to deliver meaningful data-driven and sustainable solutions with a clear positive impact on the livelihood of all Nigerians,” he said.

 

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