In the black market, foreign exchange traders witnessed a rise in the selling price of dollars, reaching N758.5/$1.

This indicates an increase of N4 compared to the exchange rate of N754.5/$1 observed the previous Friday. The fluctuation demonstrates a 0.53% depreciation in the value of the naira against the dollar.

Also, the British pound sterling took the same upward path, as the price to purchase the United Kingdom currency appreciated by N5.1.

This means the naira depreciated in value by 0.53%, as the naira to pound exchange rate averaged N966.9/£1, in contrast to the N961.8/£1 reported on Friday.

In a similar fashion, the naira was down by 0.53% against the euro, as the exchange rate of both currencies climbed from N825.9/€1 to N830.3/€1.

Meanwhile, recall that the official market rate of the naira to dollar exchange closed at N472.50/$1 on Friday, which means the cost of the United States currency rose by N3 or 0.63% from the N469.50/$1 rate they traded the previous day.

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