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Naira Loses

Naira Loses Ground To The Dollar In All Markets

On Monday 7th, November 2016 the naira loses ground at the official inter-bank market to exchange at the rate of N350 to $1 from N328 it traded last week Friday 4th.

At the Bureau De Change segment, the naira closed at N385 against the dollar, Central Bank rate, while the pound sterling and the euro closed at N564 and N510 respectively.

Also, trading at the parallel market saw the naira exchanged at N470 to one dollar, falling from N468 on Friday, while the pound sterling and the euro traded at N560 and N510 respectively

Forex traders at the market express hope that the naira would see better days as Diaspora remittances was expected to boost liquidity at the this xmas season.

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