The naira opened the trading week on a positive note against the dollar, with a marginal gain at the official market.
Data released by the Central Bank of Nigeria (CBN) indicated that in the Nigerian Foreign Exchange Market (NFEM), the naira traded at N1,499.78 per dollar.
This shows that the Naira firmed up marginally against the dollar gaining N0.63 naira when compared to the trading figure on Friday when the local currency traded for N1,500.41.
In the parallel market, the naira also maintained the previous week positive run exchanging for N1568 per dollar.
This recent figures comes on the heels of the Central Bank of Nigeria’s latest move to enhance oversight on Bureau de Change operators across the nation. The apex bank’s Trade and Exchange Department has imposed a new cap, limiting weekly foreign exchange sales to BDC operators to $25,000.
