The Naira settled at N1,550 against the U.S dollar; at the unofficial market from N1,550/$ Settlement price on Sunday while the greenback remained at elevated levels in the global foreign exchange market.
However, on the Nigerian Foreign Exchange Market (NFEM), the local currency value dipped to N1,536.99/$.
The spread between the NFEM rate and the parallel market shrank from N15 to N3.01 against the American dollar.