BUSINESS

Forex: Naira loses against dollar

Published

7 years ago

August 17, 2017

Nan

Naira gains against dollar, closes at N358/$ at parallel market

The naira on Thursday continued to fall against the dollar at the parallel market, our correspondent reports.

The Nigerian currency lost one point to exchange at N368, weaker than N367 posted on Wednesday, while the Pound Sterling and the Euro closed at N478 and N432.

At the Bureau De Change (BDC) window, the naira was sold at N363 to the dollar, while the Pound Sterling and the Euro closed at N478 and N432.

However, the naira appreciated at the investors’ window, exchanging at N361.17 stronger than N362.39.

Traders at the market told our correspondent that in spite of the weekly auction of foreign exchange by the Central Bank of Nigeria (CBN) to BDC, the naira continued to depreciate.

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