The Nigerian Naira, on Thursday, February 9, closed weak as the volatility in the Nigerian foreign exchange market linger leaving the local currency to trade at N500 to one U.S Dollar at the parallel or black market.
The local currency at the parallel market exchanged for N613 to the British Pound Sterling and traded at 530 against the Euro.
Meanwhile, at the official interbank or spot FX market, the naira traded static at N305 against the greenback.
The naira also exchanged at N381 against the Pound Sterling and traded for N325 against the single European currency, Euro.
On Wednesday, February 8, the naira had caved in to market pressure weakening further against the United States dollar at the parallel market.
The local currency has depreciated to N500/dollar from the N498/dollar rate it was yesterday, February 7.
The Naira also crashed against the Euro as it now exchanges at N530 as against the previous rate of N528.
