The naira closed at N504.00 per $1 on Monday.
Naira maintained stability against the U.S dollar at both the official and black market segments on Monday.
Data posted on the FMDQ Security Exchange where forex is officially traded showed that the naira closed at N411.50 per $1 on Monday, the same rate it exchanged hands with the greenback currency on Friday last week.
This occurred as forex turnover rose by 3.11 per cent, with $139.49 million posted at the end of the market session as against the $135.28 million recorded in the previous session on Friday last week.
The currency experienced an intraday low of N412.20 and a high of N400.00 before settling again at N411.50 on Monday.
Similarly, data published on abokiFX.com, a website that collates the parallel market rates in Lagos showed that the naira closed at N504.00 per $1 on Monday, the same rate it traded in the previous session on Friday last week.
This leaves the spread between the official market and the parallel market segment rates at N92.50, again maintaining the same disparity of 18.40 per cent on Monday.
– Premium Times