By Adedapo Adesanya
The Naira was able to take back some gains, about N3, against the US Dollar at the black market on Thursday as it sold at N462/$1 compared with N465/$1 it was traded on Wednesday.
However, against the British Pound Sterling, the local currency remained unchanged at N595/£1 and depreciated by N5 on the Euro to N545/€1 from N540/€1.
At the Investors and Exporters (I&E) window yesterday, the value of the Naira in comparative with the Dollar remained static at N386/$1 on the back of the decline in the day’s turnover by 68.9 per cent or $194.5 million.
During the session, transactions worth $87.78 million were recorded in contrast to the previous session’s $282.28 million worth of trades.
Yesterday, the Central Bank of Nigeria (CBN) maintained the exchange rate it sells the Dollar to commercial banks in the country for government transactions, N379/$1.
At the Bureaux De Change (BDC) segment, Business Post gathered that the Naira depreciated against the Dollar by N2 to trade at N465/$1 compared to N463/$1 it previously traded.
On the Pound, it dropped N11 to close at N606/£1 as against N595/£1 it was traded the previous day while against the Euro, it depreciated by N1 to N545/€1 from N544/€1.
However, in Port Harcourt, the local currency gained 50 kobo against the US Dollar to N464/$1 from N464.50/$1 but closed flat on the Pound at N595/£1 and lost N2 against the Euro to N547/€1 from N545/€1.
The Naira/USD exchange rate at the Abuja BDC market made no movement from N465/$1. It was the same outcome on the Pound and Euro, which remained unchanged at N610/£1 and N545/€1 respectively.
In Kano, the local currency traded flat against the Dollar, Pound and Euro on Thursday at N461/$1, N605/£1 and N535/€1 respectively.
Modupe Gbadeyanka