On the apex bank’s website, the local currency closed at N415.17 to a dollar at the official market on Tuesday.

The Nigerian naira has exchanged N570 against the US dollar at the parallel market.
 
However, the value of the Nigerian naira depreciated by 1.5 percent as banks shifted personal travel allowance (PTA) and business travel allowance (BTA) rates from N413 to N419 per dollar.
 
The rate, which exchanged for N413 per dollar in the last few months, has added about N6, bank sources told TheCable on Wednesday.
 
“We are surprised to see the changes too. The differences have always been kobo — but recently it has moved from N413 to 417 and within the last week and now, our portal is exchanging for N419 to a dollar,” a source said.
 
“Customers have no choice. So, most people do not complain about the new development. It is better than the aboki (black) market rate of N570.”
 
Bureaux De Change operators (BDCs), popularly known as ‘abokis’, who spoke to TheCable, quoted the naira at N567/N570 to a dollar.

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