Nigeria’s naira remained stable against the U.S. dollar at the unofficial market on Friday, data posted on abokiFX.com, a website that collates parallel market rates in Lagos showed.
The data posted showed that the naira closed at N485.00 at the black market, the same rate it exchanged hands with the greenback in the previous session on Thursday.
Similarly, the local unit remained stable at the official market.
Data posted on the FMDQ Security Exchange window where forex is officially traded showed that the domestic unit again closed at N410.00 at the trading session of the NAFEX window on Friday.
Friday’s performance came to be as forex supply slumped significantly.
The naira experienced an intraday high of N394.00 and a low of N436.40 before closing at N410.00 on Friday, the same rate it traded in the previous session on Thursday.
ALSO READ: Naira gains at parallel market
This occurred as forex turnover dipped by 70.37 per cent, with $32.01 million recorded as against the $108.04 million posted in the previous session on Thursday.
This leaves the spread between the parallel market and the official market exchange rate at N75.00 which translates to a gap of 15.46 per cent, the same as that of the previous session on Thursday.
Support PREMIUM TIMES' journalism of integrity and credibility
Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.
For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.
By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.
TEXT AD: To advertise here . Call Willie +2347088095401...