Naira Stays Unchanged N360/$ at Parallel Market

By Dipo Olowookere

The local currency traded flat on Thursday at the black market, closing at N362 to a Dollar at the end of transactions.

Business Post reports that this was extended to the other foreign currencies transacted at the foreign exchange (forex) market.

Specifically, the Euro, which traded on Wednesday at N442, closed yesterday at the same rate, while the Naira, which was sold at N500 to the Pound two days ago, remained unchanged at the market segment yesterday.

However, at the CBN window, the local currency appreciated, trading at N305.95 to the Dollar against N306 the previous day.

Furthermore, the Naira exchanged at N425.03 to the Pound in contrast to N426.14 it was sold on Wednesday, while it was traded at N375.92 to the Euro against N377.02 the previous day.