The naira fell sharply against the U.S dollar at the unofficial market on Monday, after it maintained stability in the previous five consecutive sessions respectively.According to data posted on abokiFX.com, a website that collates parallel market rates in Lagos, naira closed at N502.00 per $1 at the black market window on Monday.
Meanwhile, data posted on the FMDQ Security Exchange where forex is officially traded showed that the naira closed at N411.28 at the Nafex window. The currency hit an intraday low of N420.90 and a high of N400.00 before closing at N411.28 on Monday.
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