The US Dollar traded for N399 in Lagos and N395 in Abuja on Tuesday, marking the first time in 7 months it’d fall below the N400 mark.

The currency has gained steadily over the past 5 weeks as the Central Bank of Nigeria aims to make the official and parallel rates equal.

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One of the reasons for the fall of the exchange rate is the lack of patronage of Bureau-De-Changes, with banks now offering lesser rates and thus enticing customers.

The Naira also gained ground on other currencies, with the Pound Sterling now trading at N510 and the Euro at N435.