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Naira closes lower against the dollar at Parallel Market

HomeNewsNaira closes lower against the dollar at Parallel Market
24
Apr
Naira closes lower against the dollar at Parallel Market
  • Author
    Alex Ikechukwu
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Lagos, April 24 (FxMallam) – The Nigerian Naira on Monday closed lower against the United States Dollar at the parallel market after days of sustained strength.

This was in spite of the Central Bank of Nigeria’s continuous intervention at both the interbank market and Bureau De Change window.

The naira on Monday afternoon exchanged between N383 (buying rate) and N390 selling rate at the parallel market.

The naira had traded between N380 and N388 against the dollar last week.

The Pound Sterling and the Euro however remained unchanged closing at N498 and N413 respectively.

Trading at the interbank market saw the Naira closed at N306 to the dollar.


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