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Naira drops at parallel market, appreciates at official window

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The naira depreciated to N1,510 per dollar at the parallel section of FX market on Monday. The current rate represents a drop of 1.34 percent

The naira depreciated to N1,510 per dollar at the parallel section of the foreign exchange market on Monday.Speaking to TheCable in Lagos, currency traders, also known as bureau de change operators, quoted the buying rate of the greenback at N1,490 and the selling price at N1,510 — leaving a profit margin of N20.percent to N1,476.12/$ on Monday — from N1,485.99 on May 31.

“We are on the right path and urge the government to clear the residual $19 million and continue prioritizing aviation,” he said.Advertisement Click on the link below to join TheCable Channel on WhatsApp for your Breaking News, Business Analysis, Politics, Fact Check, Sports and Entertainment News!

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