Naira Suffers N3 Lost Against Dollar At Bureaux De Change

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Naira Strengthens To N435/$ From N525 As CBN Continues Intervention

The value of the Nigeria’s currency (naira) has yesterday depreciated against the dollar by N3, to close at N208 at the Bureau De Change (BDC) from the N205 it sold for on Friday.

According to the News Agency of Nigeria (NAN), the development was an appreciation following the N224 it sold for before the March 28 presidential election.

However, the Naira remained stable at N206 to the dollar since Friday at the parallel market, otherwise known as the black market.

The currency traded against the pound at N301.50k at the BDCs and the black market, respectively.

The Naira also exchanged for the Euro at N228, from the N230 it traded for on Friday.

Meanwhile, the official rate is still N197 to the dollar at the Central Bank of Nigeria.

Datboyjerry

Datboyjerry

I am but your herald boy in the art of the pen.. An eccentric Environmental Biologist smouldered in the glorious epiphany of online journalism. If you ever find my article unduly insipid, sue me and i’ll refund you...

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