The Nigerian Naira on Tuesday, May 8, remained unchanged against the united States of America Dollar, at the parallel segment of the Nigerian Foreign Exchange Market.
The local currency exchanged at the rate of N362 against the greenback, same rate at which it traded for in the previous trading session.
However, against the British Pound Sterling, the naira appreciated to N500 and closed at the rate of N435 against the European Single Currency, Euro.
Meanwhile the Naira flagged off the newweek with a 16 kobo slump to N360.91 per dollar in the Investors and Exporters (I&E) window of the foreign exchange market.
Data from the Financial Market Dealers Quote (FMDQ) showed that the indicative exchange rate for the I & E window also known as Nigerian Autonomous Foreign Exchange (NAFEX), jumped to N360.91 from N360.75 per Dollar on Friday, May 4, translating to a 16 kobo loss in Naira.
The depreciation was driven by a 33 percent decrease in the volume of Dollars traded in the I & E window
