Naira slips marginally against Dollar at parallel market

Naira slips marginally against Dollar at parallel market

- The Naira has slipped against Dollar but stayed unchanged against Pound at parallel market

- Trading at the parallel market saw the Naira close at N358.3/$1 on Monday, July 30

- The Pound Sterling and the Euro closed at N480 and N420 respectively

The Naira on Monday, July 30, weakened marginally against the dollar at the parallel market, the News Agency of Nigeria (NAN) reports.

The Nigerian currency exchanged at N358.3, weaker than N358 traded on Friday, July 27, while the Pound Sterling and the Euro closed at N480 and N420.

At the Bureau De Change (BDC) window, the naira was sold at N360 to the dollar, while the Pound Sterling and the Euro closed at N480 and N420.

Naira weakens marginally against dollar at parallel market

Naira slips marginally against Dollar

Trading at the investors’ window shows that the Naira closed at N361.78 to the dollar and a trading turnover of 106.26 million dollars, while the Naira closed at N305.90 to the dollar at the CBN window.

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Meanwhile, the CBN had continued with its interventions at the foreign exchange market with the injection of 340.5 million dollars and 69.9 million Chinese Yuan in the spot and short tenored forwards last Friday.

In a previous report by Legit.ng, the Nigerian Naira on Thursday, July 26, retained its strengthened rate at the parallel market against Dollar.

Tthe local currency maintained the same rates of N360 against Dollar, N480 against Pound as it was yesterday, July 25, but appreciated against Euro.

Can N1 ever become $1 again at Forex Market? Watch Nigerians respond to this question on Legit.ng TV.

Source: Legit.ng

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