Naira depreciates against dollar at parallel market

Dollar and Naira bills [Photo credit: NairaFX]

The Naira on Friday depreciated against the dollar at the parallel market in Lagos, the News Agency of Nigeria (NAN) reports.

The Nigerian currency lost one point to exchange at N363, weaker than N362 posted on Thursday, while the Pound Sterling and the Euro closed at N496 and N429, respectively.

At the Bureau De Change segment, the naira closed at N361.50 to the dollar, while it exchanged at N502 and N428 to the Pound Sterling and Euro, respectively.

Trading at the investors’ window showed that the naira closed at N360.85 and had a turnover of 202.47 in transaction.

At the official CBN window, the currency closed at N305.85 to the dollar, and at N412.6 and N360.4 to the Pound Sterling and the Euro.

Currency traders said that though the naira depreciated marginally, it had remained stable at the foreign exchange market.

(NAN)

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