Naira depreciated slightly against the U.S. dollar at the Investors and Exporters (I&E) window on Monday, data posted on the FMDQ Security Exchange where forex is officially traded showed.
However, the local unit remained stable at the parallel market.
Data posted at the Nafex window showed that the naira closed at N411.07, this represents a 0.08 per cent decrease from N410.75 the rate it traded in the previous session on Friday last week.
This happened as foreign exchange supply dipped by 34.45 per cent, with $151.37 million posted as against $230.93 million recorded in the previous session on Friday last week.
Naira hit an intraday low of N420.73 and oscillated to a high of N400.00 at the Nafex window, before closing at N411.07 on Monday.
The last time the currency hovered around the rate of N411.00 and above was on June 2 when it closed at N411.06.
Meanwhile, the naira on Monday remained unchanged at the parallel market, data posted on abokiFX.com, a website that collates parallel market rates in Lagos showed.
According to the data posted, the domestic currency exchanged hands with the greenback currency at N502.00, the same rate it traded in the previous session on Friday last week.
This leaves the disparity between the black market and official market rates at N90.93.This translates to a margin of 18.11 per cent as of the close of business on Monday.
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