Naira Loses against Dollar

Rotimi Morgan/

The Naira today depreciated marginally against the dollar at the parallel market, reports say.

The Nigerian currency lost one point to exchange at N391 to the dollar, weaker than N390 posted on Friday, while the Pound Sterling and the Euro closed at N498 and N420 respectively.

At the Bureau de Change (BDC) window, the Naira was sold at N362 to the dollar, while the pound sterling and the Euro exchanged at N490 and N417 respectively.

However, the Naira appreciated at the Nigeria investors and exporters window, closing at N379.68 to the dollar, stronger than N380.31, its opening rate.

Trading at the Nigeria interbank market saw the Naira closing at N305.80 to the dollar.

Currency traders said that in spite of the marginal loss of the Naira, the nations’ currency had remained stable.

They called for patriotism on the part of Nigerians to save the Naira from the jaws of speculators and currency hoarders.

Source: NAN

0