In the investors’ and exporters’ window on Tuesday, the authorised dealers closed foreign exchange trading with N789.08/$1 rate.

The authorised dealers increased the price of the dollar from N756.94/$1 rate offered on Monday, indicating the naira depreciated in value by N32.14 kobo.

In a foreign exchange data released by FMDQ Exchange on Tuesday, it was learnt that the value of the dollar fluctuated between N804/$1 and N700/$1.
Also, the data showed that foreign exchange traders transacted $67.33 million worth of forex, reflecting supply inched higher by $120,000.

During trading in the official market the previous day, authorised dealers and their clients had transacted $67.21 million in foreign exchange.

To read more, click on the link below :
https://www.primebusiness.africa/official-black-markets-forex-dealers-increase-dollar-rate/