The naira on Monday climbed to a two-year high of N1,347.78 per dollar in the official foreign exchange (FX) market, further narrowing the spread with the black market, as Bureau De Change (BDC) operators await trading guidelines from the Central Bank of Nigeria (CBN) this week. Data published by the apex bank showed that the naira appreciated by N7.64, representing a gain of 0.57 percent compared to N1,355.42 recorded on Friday at the Nigerian Foreign Exchange Market (NFEM). In the parallel market, also known as the black market, the loc
The naira on Monday climbed to a two-year high of N1,347.78 per dollar in the official foreign exchange (FX) market, further narrowing the spread with the black market, as Bureau De Change (BDC) operators await trading guidelines from the Central Bank of Nigeria (CBN) this week. Data published by the apex bank showed that the naira appreciated by N7.64, representing a gain of 0.57 percent compared to N1,355.42 recorded on Friday at the Nigerian Foreign Exchange Market (NFEM). In the parallel market, also known as the black market, the loc