Naira gained against the U.S. dollar at the parallel market window on Monday, according to AbokiFX.com, which collates black market rates.

According to data published at the black market window (abokiFX.com), the local unit closed at N512.00 per $1 at the market segment on Monday.

This implies a N3.00 or 0.60 per cent appreciation from the N515.00 rate it traded in the previous session on Friday last week.

By implication, the currency has gained approximately 3.00 per cent at the unofficial market segment after witnessing an all-time devaluation record last Wednesday when it closed at N525 after Central Bank of Nigeria (CBN) banned forex sales to Bureau De Change operators.

The local currency fell against the greenback currency at the official market segment on Monday.

FMDQ data showed that the naira closed at N411.50 per $1. This implies a N0.23 or 0.02 per cent devaluation from the N411.44 rate it traded in the previous session on Friday last week.

It touched an intraday high of N405.00 and a low of N412.15 before closing at N411.50 on Monday.

The market forex supply plummeted by 18.30 per cent, with $143.20 million posted at the end of the market session as against the $121.08 million recorded in the previous session on Friday last week.

The spread between the official market and the unofficial market rates stood at N100.50, leaving a disparity of 19.63 per cent as of the close of business Monday.

PT