The Nigerian naira opened the new trading week relatively stable against the US dollar across both the official and parallel markets (black market).
According to the latest CBN data, the official Nigerian Foreign Exchange Market (NFEM) rate closed at N1,362.09/$1 on Friday, July 24.
During the session, the dollar traded as high as N1,365/$1 and as low as ₦1,359/$1, before closing at ₦1,361/$1.
In the black market on Monday morning, currency dealers quoted the dollar at about ₦1,350 to buy and ₦1,375 to sell.
The black market rates may still vary depending on location, demand, supply, and transaction volumes.
