The Naira, on Wednesday, November 9, weakened against the dollar at the interbank or Spot FX market, dropping N2.49 to close at N307.26 against N305.27 recorded on Tuesday.
The Naira on Tuesday, November 8, soared at the interbank or Spot FX Market gaining N44.95 to exchange at N305.27 to the dollar at the interbank market after its Monday’s record of N350. 22. This came as the currency appreciated significantly against the dollar in all the segments of the Forex market.
Meanwhile, at the parallel market, the Nigerian Currency firmed up against the U.S dollar on Wednesday following the low demand of the greenback at the market. It soared to N460 to a dollar from N465 recorded on Tuesday.
However, at the Bureau De Change, BDC, window, the dollar was sold at N385, being the Central Bank of Nigeria controlled rate. Also, the Pound Sterling and Euro traded at N560 and N503 respectively.
