fbpx
BUSINESS & ECONOMYCOVERNEWSLETTER

Naira Slides Marginally to N365.5/$ At Black Market

Naira unaffected by Trump’s victory

The Nigerian Naira on Thursday, September 21, collapsed marginally against the United States of America Dollar at the parallel segment of the Nigerian Foreign Exchange Market.

The naira dropped 50kobo on Thursday at the black market to exchange at the rate of N365.5 against the greenback n contrast to the rate of N365 recorded on Wednesday.

Against the British Pound Sterling, the local currency exchanged at the rate of N487 and closed at the rate of N436 against the European Single Currency, Euro.

At the Bureau De Change (BDC) window, the Naira traded at N362 to the dollar, while the Pound Sterling and the Euro closed at N487 and N436.

Trading at the investors’ window saw the Nigerian currency closing at N360.33 to the dollar.

According to traders, high demand for the Naira led to its slight depreciation at the currency market.

 

 

About Author

BWN
This is BizWatchNigeria. Nigeria's first online business Newspaper.

Comment here

This site uses Akismet to reduce spam. Learn how your comment data is processed.