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Breaking News: Naira Depreciates To 1,233 Against The Dollar In Parallel Market
Breaking News: Naira Depreciates To 1,233 Against The Dollar In Parallel Market....KINDLY READ THE FULL STORY HERE▶
According to information from The BUSHRADIOGIST and BDC operators, the local currency maintained the same trading range as Friday, being bought and sold at rates of 1,228/$ and 1,233/$. Abokifx data revealed that the Pound Sterling was exchanged at 1,550/£ and 1,565/£, while the Euro stood at 1,290/€ and 1,305/€, respectively….CONTINUE READING
Kamarudeen Ibrahim, a BDC operator in Lagos, noted a weakening trend, stating, “The naira traded at 1,220/$ a week earlier but weakened to 1,233/$ by the end of the week.”
In further comments, Akeem Yusuf, another BDC operator, mentioned, “The naira was sold for 1,233/$ on Friday; Today, Monday, it did not change because people are not buying.” The Naira saw a slight depreciation of 1.1%, or N13, in the parallel market.
However, on the Investor & Exporter forex window, there was a marginal improvement. Figures from the FMDQ indicated that the Naira, which closed at 889.63/$ on Thursday, appreciated by 0.42%, or N3.75, to close at 885.88/$ on Friday.
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Source: Bushradiogist
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