The Naira on Friday, September 2, gained some upper hand over the American dollar at the parallel foreign exchange(forex) market, but lost some grounds to the greenback at the interbank market.
The local currency was exchanged at a rate of N422 to a dollar, helping it to score 3 points from the N425 it was exchanged with a dollar on Thursday, September 1. The British Pound sterling and a Euro were bought for N535 and N464 respectively.
However, at the interbank sector of the forex market, the naira spot rate depreciated to N214.77 against the dollar, compared to spot rate of N313.31 to the United States dollar exchanged on Thursday.
The local unit at the same official window, was exchanged at N404.79 and N341.41 to one Pound Sterling and one Euro, respectively.
