Naira FOREX Rates April 8th 2016 – Parallel Market – Fuel Woes, Budget Delay puts pressure on Naira

NAIRA (N)

USD ($)

EURO (€)

GBP (£)

BUY/SELL

BUY/SELL

BUY/SELL

8/4/2016

320/323.5

355/359

445/450

7/4/2016

318/322

355/360

445/450

6/4/2016

318/322

355/360

445/450

5/4/2016

318/321

355/358

445/452

4/4/2016

318/320

355/358

445/455

 

Friday, April 8, 2016

The Naira suffered more setback at the parallel market as fuel scarcity continues to linger nationwide. Also adding to the pressure is the yet to be signed 2016 Federal Budget. Forex Dealers have predicted improved rates once the budget is signed and expectations were for a signed budget this week leading to the slightly better rates earlier in the week. But as the week stretched towards Friday, that sentiment had waned.