The Nigerian Naira on Wednesday, March 15, remained firm against the American Dollar at the black or parallel segment of the Nigerian foreign exchange market.
The local currency, however collapsed against the British Pound Sterling and European Single Currency Euro at the parallel market.
Against the greenback, the Nigerian currency continues to trade at the rate of N457 per dollar, same rate as it was on Tuesday, March 14.
However, the naira weakened against the Pound Sterling as it now trades at N550 as against the previous rate of N545. The Naira also dipped against the Euro as it now trades at N485, from the previous rate of N480.
Meanwhile, at the official interbank or spot FX segment of the market, the naira slumped to 306 per dollar from the 305.50 level it had traded for a very long time.
The Naira had on Tuesday, March 15, sustained its gain against the dollar at the parallel market trading for N457 (selling rate) at the parallel market, from the N455/460 it traded on Monday, while the Pound Sterling and the Euro closed at N547 and N480, respectively.
At the Bureau De Change (BDC) window, the Naira traded at N399 to a dollar, CBN controlled rate, while the Pound Sterling and the Euro traded at N547 and N480, respectively.