Naira depreciated further on Friday and traded for N1,425 at the parallel section of the foreign exchange market.
Gatekeepers News reports that the new rate represents a 0.71 percent or N10 increase from the N1,415 traded on Thursday.
Bureaux De Change (BDC) operators in Lagos quoted the buying price of the dollar at N1,410 and the selling price at N1,425 — leaving a profit margin of N15.
Meanwhile, data released on the FMDQ Security Exchange, the official forex trading portal showed that the Naira opened at ₦824.58 per dollar on Friday, January 26, 2024, and closed at ₦891.90 per $1 on Friday, January 26, 2024.
