The Nigerian Naira on Monday, March 13, closed flat at the black or parallel segment of the Nigerian foreign exchange market, trading at the rate of N463 against the United States Dollar.
Against the British Pound Sterling on Monday, the local currency exchanged at the rate of N555 and exchanged against the Euro at the rate of N480.
Meanwhile, at the official interbank or spot FX segment of the forex market, the naira traded at N305 against the dollar. Against the Pound, it traded at the rate of N378 and against the Euro, it traded at the rate of N324.
On Friday, March 10, the Nigerian currency, had collapsed against the American Dollar, Pound Sterling and Euro at the parallel market, hours after President Muhammadu Buhari’s return from London.
The naira had shed one point against the dollar as it now at N463 per US dollar as against the N462 rate it was on Thursday, March 9. It also dipped to N555 against the Pound from the previous rate of N550 and weakened to N480 per Euro as against the previous rate of N477.