Naira strengthens against dollar at parallel, official markets

The FX rate is a 1.34 percent increase from the N1,510/$ recorded on May 17.
Currency traders in  Lagos, also known as bureau de change ,BDCs, operators, quoted the buying rate of the greenback at N1,450 and the selling price at N1,490 — leaving a profit margin of N40.
At the official section of the FX market, the local currency appreciated by 1.93 percent to N1,468.99/$ on Monday — from N1,497.33/$ traded on May 17.
Also, the naira depreciated as low as N1,550/$ during intra-day trading and appreciated as high as N1,400/$.