Naira Closed Last Week At N368 Per Dollar in Parallel Market

The value of the naira has continued to fluctuate as a result of the pressure from low foreign exchange supplies and lingering concerns about global economic growth.

The naira closed at N368 to the dollar at the parallel market, up from N370 during the week although weaker than N350 which it sold the previous week.

The naira was trading at N197.50 a dollar on the official interbank market, around the peg rate of N197.

Traders say that they expect the naira to ease slightly against the dollar on the parallel market in the coming days as the apex bank moves to release details of its new flexible exchange rate policy.