Business
Naira appreciates to N1,100/$ in parallel market
The naira rose further on Monday in the parallel section of the foreign exchange (FX) market.
At the Lagos street market, currency traders, also known as bureau de change (BDC) operators, quoted the naira at N1,100 to the greenback.
The traders put the buying price of the dollar at N1,070 and the selling price at N1,100 — leaving a profit margin of N30.
The figure represents an appreciation of N50 or 4.34 percent from the N1,150/$ it traded on April 12.
At the FMDQ Exchange, a platform that oversees official foreign exchange (FX) trading in Nigeria, the local currency rose by 5.72 percent or N69.02 to N1,136.04/$ on Monday — from N1,205.06/$ on April 12.
Bodex F. Hungbo, SPMIIM is a multiple award-winning Nigerian Digital Media Practitioner, Digital Strategist, PR consultant, Brand and Event Expert, Tv Presenter, Tier-A Blogger/Influencer, and a top cobbler in Nigeria.
She has widespread experiences across different professions and skills, which includes experiences in; Marketing, Media, Broadcasting, Brand and Event Management, Administration and Management with prior stints at MTN, NAPIMS-NNPC, GLOBAL FLEET OIL AND GAS, LTV, Silverbird and a host of others
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