The naira appreciated against the dollar at both official and parallel foreign exchange markets at the close of trading on Monday.
According to data from the FMDQ, the naira appreciated to ₦1,476.12 per dollar on Monday, a ₦9.87 gain compared to the ₦1485.99 recorded last Friday.
The Nigerian currency maintained its form in the parallel market section, appreciating to ₦1,475 per dollar compared to ₦1480 it traded last Sunday.
This is sequel to the apex bank’s intervention in the forex market. FMDQ securities exchange data showed that the bankers’ bank sold $575 million in May, representing the highest sales in a single month in 2024.
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