Naira Weakens Marginally Against Dollar at Parallel Market

The Naira on Monday weakened marginally against the dollar at the parallel market, newsmen report.

The Nigerian currency exchanged at N358.3, weaker than N358 traded on Friday, while the Pound Sterling and the Euro closed at N480 and N420.

At the Bureau De Change (BDC) window, the naira was sold at N360 to the dollar, while the Pound Sterling and the Euro closed at N480 and N420.

Trading at the investors’ window shows that the Naira closed at N361.78 to the dollar and a trading turnover of 106.26 million dollars, while the Naira closed at N305.90 to the dollar at the CBN window. Meanwhile, the CBN had continued with its interventions at the foreign exchange market with the injection of 340.5 million dollars and 69.9 million Chinese Yuan in the spot and short tenored forwards last Friday. [NAN]

July 30, 2018