The naira opened the new week at different rates against the US dollar across Nigeria’s official and parallel foreign exchange markets.

Data from the Nigerian Foreign Exchange Market put the naira at about one thousand, three hundred and thirty-one naira, twenty kobo to the dollar, based on Friday’s confirmed rate.

In the parallel market, the dollar was quoted at around one thousand, three hundred and ninety-five naira on Monday.

This puts the gap between the official and parallel-market rates at nearly sixty-four naira per dollar.

Meanwhile, Nigeria’s external reserves have risen to 54.61 billion dollars as of September 14, according to Central Bank data cited by BusinessDay.

The figure represents an 18-year high and a 30.52 per cent increase compared with the same period last year.

Actual exchange rates may vary depending on the bank, Bureau de Change operator, transaction size and location.