On Friday, the Nigerian naira fell against the US dollar in both the parallel and official markets.
Parallel Market
* Naira depreciated by 1.54% to ₦1,320/$
* Buying rate: ₦1,260
* Selling rate: ₦1,320
* Profit margin for BDC operators: ₦60
Official Market
* Naira depreciated by 2.24% to ₦1,339.23/$
* Dollar traded between ₦1,051 and ₦1,410 on FMDQ Exchange
**Stakeholder Concerns and Calls for Intervention**
The depreciation has prompted concerns from stakeholders, who are urging government intervention to:
* Strengthen the naira
* Stimulate economic growth
**Abuja Chamber of Commerce and Industry (ACCI)**
* President Emeka Obegolu emphasized the need for policies to bolster the naira and foster economic prosperity
* ACCI is holding a roundtable discussion to brainstorm strategies for strengthening the naira
* Recommendations from the discussion will be communicated to relevant authorities for implementation
The government and stakeholders are working together to address currency volatility and support sustainable economic development in Nigeria.
