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BUSINESS & ECONOMYCOVERNEWSLETTER

Naira Trades at N361.5/$ at Parallel Market

Naira unaffected by Trump’s victory

The Nigerian Naira, on Tuesday, January 9, traded at the rate of N361.5 against the United States of America Dollar at the parallel segment of the Nigerian Foreign Exchange Market.

The British Pound Sterling at the black market exchanged at the rate of N475 against the Nigerian currency on Tuesday, while the European Single Currency, Euro traded at the rate of N42.

Meanwhile, at the Bureau De Change, BDC, window, the Naira traded at N362 to the Dollar, slightly lower than the black market rate, while the Pound and the Euro closed at N475 and N420 respectively.

Trading at the investor’s window saw the Naira trading at the rate of N359.38 to the dollar. Traders at the market said they expected the Naira to appreciate further in the weeks ahead.

 

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