Naira Holds Steady With Dollar At ₦1,333

The dollar has opened the new trading week at about ₦1,333.54 on Nigeria’s official foreign exchange market on Monday.

Available exchange-rate data put the official Nigerian Foreign Exchange Market (NFEM) rate at ₦1,333.54 per dollar.

Meanwhile, the parallel market rate remains higher. Bureau De Change (BDC) operators are reportedly buying the dollar at about ₦1,375 and selling it for around ₦1,390. However, parallel market rates vary by location, dealer and transaction size. The figures are indicative quotes rather than fixed prices.

Naira Trades At ₦1,332 Officially (NewsCentral TV) — Naira and Dollar Currencies. Credit: Vanguard News.

The official rate has remained relatively stable in recent trading. The naira closed at about ₦1,332.26 per dollar on Friday. In the parallel market, the dollar sold for about ₦1,370 at the end of the previous trading week, according to market reports.

Based on the reported figures, the difference between the official rate of ₦1,333.54 and the parallel market selling rate of ₦1,390 is ₦56.46 per dollar.

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