In Monday’s trading session at the parallel market, the Naira was exchanged at 1,233 per US dollar, as reported by Bureau de Change operators.

Several BDC operators indicated that the local currency maintained the same rate of 1,228 per dollar for both buying and selling, consistent with Friday’s rates.

Abokifx data revealed that the Pound Sterling was transacted at 1,550/£ and 1,565/£, while the Euro stood at 1,290/€ and 1,305/€ for buying and selling, respectively.

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Kamarudeen Ibrahim, a BDC operator in Lagos, noted a slight depreciation in the Naira’s value, stating, “The Naira traded at 1,220/$ a week earlier but weakened to 1,233/$ by the end of the week.”

Akeem Yusuf, another BDC operator, mentioned that the Naira’s exchange rate remained at 1,233/$ on Monday, stating, “It did not change because people are not buying.”

The Naira experienced a marginal weakening of 1.1%, or N13, at the parallel market.

Meanwhile, in the Investor & Exporter forex window, the Naira exhibited a slight appreciation on Friday, as per FMDQ figures.

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The local currency, which closed at 889.63/$ on Thursday, recorded a 0.42% increase, amounting to N3.75, closing at 885.88/$ on Friday.