Discover the latest on Nigeria's forex market as the naira rebounds to N1,525/$ at the parallel market, ending a three-day decline. Get insights into the currency's fluctuations and impacts post-CBN's market unification.
The naira halted its three-day decline against the dollar at the parallel market, appreciating to N1,525/$ on July 5 from N1,535/$ on July 4. Bureau de change operators set buying rates at N1,500 and selling at N1,525, marking a N25 profit margin.
The official FX market also saw a reversal with the naira trading at N1,509/$, up from N1,520/$ previously. This follows fluctuations post-CBN's market unification announcement in June 2023, impacting economic sectors.
