The naira on Monday remained relatively stable against the dollar at both the official and parallel markets.
The News Agency of Nigeria reports that the naira depreciated against the Euro and Pound Sterling at the official market, it appreciated at the parallel market and Bureau de Change.
A breakdown of the currency transactions showed that since Aug. 8, N155.83 was exchange for one dollar at the official Central Bank of Nigeria currency window.
N192.47 and N244.61 was also sold for one Euro and one Pound Sterling, respectively compared with the exchange rate of N191.17 and N243.13 recorded on Friday at the official market.
The naira lost N1.30 and N1.48 to the Euro and the Pound Sterling, respectively on Monday
At the Bureau de Change, the naira rallied upward by N2 against the Euro as it was sold for N203, compared with N205 traded on Friday
The Naira also gained N2 against the pound as sold for N255 against N257 traded on Friday, while it remained stable against the dollar, at N162.50.
Naira also remained stable at the parallel market, selling for N164 to one dollar and while cost N257 and N205 for the Euro and Pound Sterling respectively.
On Friday, N258 and N207 were traded for one Pound Sterling and Euro. Click to signup for FREE news updates, latest information and hottest gists everyday
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CBN GOVERNOR LAMIDO SANUSI MUST MAINTAIN FISCAL DISCIPLINE,EFFECTIVE CASHLESS POLICY,STRENGTHEN THE BANKS AS AN AID TO TRADE - MANUFACTURING, BUYING AND SELLING LOCAL PRODUCTS & REDUCE DEPENDENCE ON OIL.
ReplyDeleteTHE ISSUE OF 5000 NOTE SHOULD BE BURIED RATHER REDENOMINATION OF NAIRA SHOULD BE REVISITED