The Naira on Monday depreciated against the dollar at the parallel market, the News Agency of Nigeria (NAN), reports.
The Nigerian currency lost N3 to exchange at N393, from N390 posted on Friday; while it traded at N505 and N435 against the Pound Sterling and the Euro respectively.
At the Bureau De Change (BDC) segment of the market, the naira closed at N385, N505 and N420 against the dollar, Pound Sterling and the Euro, respectively. The naira appreciated at the official interbank market to close at N317.34, from N320.25 posted on Friday.
Traders at the market said that the demand for the greenback was still on the high side. NAN reports that the market was eagerly awaiting the sale of forex by banks to BDCs during the week. Click to signup for FREE news updates, latest information and hottest gists everyday
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It is very bad to hear that parallel market will have dollar while the CBN will continue to suffer Dollar deficiency in this country. Or, is it a means to enrich some class of people in the expense of the poor masses. Federal govt, and CBN governor should rise up to their responsibilities as they put their houses straight. School children abroad and businessmen are indeed in pains. We need an explanation from Mr. Buhari Mohammed.
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