The Naira fell against the U.S. dollar at the official market on Monday, data recorded on the FMDQ Security Exchange (Nafex) where forex is officially traded showed.

The naira closed at N411.67 per $1 at the Nafex window on Monday, this implies a N0.87 or 0.21 per cent devaluation from the N410.80 rate it traded in the previous session on Friday last week.

It touched an intraday high of N400.00 and a low of N412.50 on Monday, the same range it has oscillated within the past four consecutive sessions of the market segment.

The market forex supply also remained unchanged at $109.03 million on Monday, the same rate recorded in the previous session on Friday.

However, the local unit maintained stability in the black market segment.

According to, a website that collates parallel market rates in Lagos the local currency again closed at N515.00 per $1, the same rate it has been trading since Wednesday last week.

This leaves the disparity between the official and black market rates at N103.33, translating to a margin of 20.10 per cent as of the close of business on Monday.

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