The naira weakened further in the parallel market on Monday, trading at N1,510 per dollar, down from N1,505 over the weekend.
Meanwhile, in the Nigerian Foreign Exchange Market (NFEM), the local currency recorded a slight appreciation, strengthening to N1,499 per dollar.
Data from the Central Bank of Nigeria (CBN) indicated that the official exchange rate improved marginally, moving from N1,500 per dollar on Friday to N1,499, reflecting a gain of N1.
This development has widened the exchange rate gap between the parallel market and the official window to N11 per dollar, compared to the N5 difference recorded at the weekend.
READ ALSO:
- Atiku Abubakar And The Burden of Statesmanship: When Political Desperation Overshadows Truth, Dignity And Civil Decorum
- AFCON 2027Q: Tanzania set for early arrival in Uyo ahead Super Eagles battle
- US-convicted Osun monarch asks court to stop Adeleke from appointing successor
- Crisis looms as Osun APC names Oyebamiji DG of parallel Tinubu campaign council
- UCL: Stuttgart defender warns of Osimhen threat ahead Galatasaray clash
