The naira, on Tuesday, closed flat across foreign Exchange (FX) markets as demand for dollars moderated. After trading on Tuesday, the dollar was quoted at N1,534.10, slightly lower than N1,533.56 quoted on Monday at the Electronic Foreign Exchange Matching System (EFEMS), according to data from the Central Bank of Nigeria (CBN).
Authorised currency dealers quoted the dollar at a higher rate of N1,555 on Tuesday, the same rate as on Monday. The FX market recorded the lowest rate of N1,522 per dollar, marginally weaker than N1,520 quoted on Monday.
The local currency appreciated to N1,665 compared N1,680 recorded on Friday on the parallel market, popularly called black market.
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