The Nigerian naira traded at N572 per dollar on Monday at the parallel section of the foreign exchange market.

The figure is higher by N2 or 0.4% from the N570 it traded two weeks ago.

Bureaux De Change operators popularly known as ‘abokis’, said the naira exchanges for N570-N572 to the dollar while they purchase at N565/$1, leaving a gain of N7.

A parallel market (street market) is characterised by noncompliant behaviour with an institutional set of rules.

– The Cable