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BUSINESS & ECONOMYCOVERNEWSLETTER

Naira Down to N361/$ at Parallel Market

Naira unaffected by Trump’s victory

The Nigerian Naira on Thursday, June 28, was down against the United States of America Dollar at the parallel segment of the Nigerian Foreign Exchange Market.

The Naira closed at the rate of N361 against the greenback from the rate of N359.80 which it exchanged for at the black market on Wednesday, June 27.

Against the British Pound Sterling, the Naira closed at the rate of N483 and exchanged at the rate of N420 against the European Single Currency, Euro.

At the Bureau De Change, BDC segment, on Wednesday, June 27, the naira traded at N360 to the dollar, while the Pound and the Euro exchanged at N482 and N419, respectively.

Trading at the investor’ window saw the naira close at N360.91 to the dollar, while it exchanged at N305.75 at the CBN official window.

According to traders, the naira is expected to remain stable as the Central Bank of Nigeria, CBN, continues its interventions at the foreign exchange market.

 

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