The naira commenced trading on a weaker level after trading at 1,180/$ on Monday from 1,150/$ on Friday at the parallel market. Figures obtained from AbokiFx showed that the naira was bought and sold for 1,170/$ and 1,180/$ on Monday, a difference of N30 or 2.5 per cent. The President, Association of Bureaux De Change Operators of Nigeria, Dr Aminu Gwadabe, noted that the naira strengthened to the dollar at the parallel market at the end of last week. At the Investor & Exporter forex window, naira commenced trading at 794.70/$ and hit a high of 998/$ before closing at 993.82/$ on Monday. Total turnover recorded at the official market was $88.31m on Monday, according to the FMDQ.

Source: Punch October 31, 2023 10:53 UTC