The Naira, on Friday, September 26 weakened to the Dollar at the parallel market, selling at N442 in contrast to N435/$US it sold for on Thursday.
The local currency dropped to N435/$US on Thursday, September 22, at the parallel market from N428 it sold for on Wednesday, September 21. Naira had dropped to N428/$US on Wednesday, at the parallel market from N424 which it exchanged for on Tuesday, September 20.
On Friday, the Nigerian currency also declined against the Pound Sterling at N560 compared to Thursday’s selling rate of N555, but remained unchanged to the Euro to sell at N475 same as Thursday’
Official rates from the Central Bank of Nigeria, CBN, showed that the Naira exchanged at N305 on Friday to one U.S Dollar, the Pounds Sterling sold at N395.4 compared to N399.4 yesterday while the Euro was exchanged for N342.1 in contrast to N343.4 exchanged previous day.
Meanwhile, the Naira recovered on Friday at the interbank market with a gain of 1.69 percent to close at N307.79 to one US Dollar, compared to a decline of 0.96 percent yesterday when it traded at N313.07.
