The Naira slid by 0.84 percent to close Tuesday, September 20 at N309.83 to the Dollar compared to a 0.54 percent gain recorded on Monday when N307.25 was exchanged for one $US, at the Spot FX or interbank market.
The local currency had opened the week on Monday, September 19, with an increase of 0.47% against the Dollar at the interbank or spot FX market to close at N307.25 as against last market’s depreciation of 0.57% at N308.69.
It had slumped by 0.57% to a Dollar on Friday, September 16, to close at N308.69 compared with a drop of 0.20% recorded on Thursday.
Official Exchange Rates from the Central Bank of Nigeria, CBN, showed that N305 was exchanged for one Dollar, N395.5 for one Pound Sterling and N341.2 for one Euro.
However, the Nigerian Currency remained steady at N424 to the Dollar at the parallel market for the third consecutive day, it also remained stable to the Pound Sterling and Euro to sell at N555 and N470 same as Monday’s rate at the parallel market.
