The naira, on Friday, depreciated against the dollar in both the parallel and official sections of the foreign exchange (FX) market.
Bureau de Change (BDC) operators said the value of the naira against the dollar at the close of business was N1,485/$.
The black market traders put the buying price of the dollar at N1,460 and the selling price at N1,485 — leaving a profit margin of N25.
At the FMDQ Exchange, a platform that oversees official foreign exchange (FX) trading in Nigeria, the local currency depreciated by 0.44 percent or N6.48 to N1,482.72/$ on Friday — from N1,476.24/$ on May 13.
The dollar traded as high as N1,490/$ and as low as N1,390 during trading hours.
The daily FX market turnover stood at $183.47 million.
At the current FX rates, the gap between the official window and the parallel market is N2.28.
