According to data posted on thewebsite where forex is officially traded, the domestic unit closed at N416.67 per $1 at the close of trade on Thursday, which represents a N0.17 or 0.04 per cent devaluation from N416.50 it closed in the previous session on Wednesday.
In the past fortnight, the currency has been hovering within the price benchmark of N416.00 -N416.67 to a dollar at the spot market. At the official market on Thursday, the domestic unit hit an intraday high of N410.00 and a low of N444.00 before closing at N416.67 at the close of trade. Parallel market exchangers at Uyo traded the naira with the hard currency at N573.00 and sold at N580.00 to a dollar on Thursday.
Similarly in Abuja Street market, currency dealers said they exchanged at N573.00 and sold at N575.00 per $1 on Thursday.
Source: News Formal (newsformal.com)
NASS & salary owing governors may be playing the forex market. F-in parasites Forex Traders Body Asks Nigeria Dealers to Stop Hoarding Dollars Bureau De Change operators enforce rules across Nigeria Central bank seeks to close forex arbitrage opportunities
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