The naira exchange rate as at Friday at the parallel market goes for 503 per dollar according to the Bureau de Change operators.

Naijbdcs.com, the official website for the licensed BDCs by the Central Bank of Nigeria showed that the naira was bought and sold for 502 and 503.5.

The currency had earlier traded at 504 per $ early July.

CBN’s website has maintained the official rate of the naira to the dollar at 410.18/$.

The apex bank earlier said it was increasing foreign exchange allocated to banks to meet legitimate needs.

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