The Nigerian Naira on Friday, July 7, suffered a setback at the parallel segment of the Nigerian foreign exchange market, crashing against the American Dollar.
Despite the Central Bank of Nigeria, CBN, intervention at the foreign exchange market, the Naira reportedly dropped one point to exchange at N366, weaker than N365 traded on Thursday.
Against the British Pound Sterling, the local currency traded at the rate of N468 and exchanged at the rate of N412 against the Euro.
At the Bureau De Change (BDC) window, the Naira traded at the rate of N363 to the greenback, while the Pound Sterling and the Euro exchange d at N470 and N412, respectively.
Trading at the official interbank window saw the local currency closed at N306 to the dollar, while the pound sterling and the Euro traded at N396.10 and N348.50, respectively.
The Nigerian currency, however, appreciated at the investors’ window as it closed at N365.02.
