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Naira exchanges at over N1,500 against dollar

The naira depreciated further on Monday against the US dollar in the foreign exchange market

Naira exchanges at over N1,500 against dollar
Naira exchanges at over N1,500 against dollar

Data from the parallel market section and FMDQ showed further depreciation against the dollar today.

At the parallel market, a Bureau De Change operator in Wuse Zone 4, Mistila Dayyabu, told Daily Post that the naira was sold as high as N1,517 per dollar on Monday before settling at N1,500 per dollar.

“On Monday morning, the dollar was sold at N1,517 per dollar. However, on hearing the information about the coming of the Economic and Financial Crimes Commission operatives, we started selling at N1,500 this evening, ” he said.

The figure increased from the N1, 450 per dollar it traded at the weekend.

Similarly, at the official market, FMDQ data showed that they dipped to N1478.11 per dollar on Monday from N1466.31 last Friday.

This represents an N11.8 drop from the N1466.31 recorded last Friday.

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