Thursday, May 13, 2021

Naira weakens marginally against dollar

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Jaafar Jaafarhttps://dailynigerian.com/
Jaafar Jaafar is a graduate of Mass Communication from Bayero University, Kano. He was a reporter at Daily Trust, an assistant editor at Premium Times and now the editor-in-chief of Daily Nigerian.
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The naira on Tuesday weakened marginally against the dollar at the parallel market in Lagos, the News Agency of Nigeria reports.

The Nigerian currency lost 50 kobo to exchange at N360 to the dollar, weaker than N359.5 traded on Monday, while the Pound Sterling and the Euro closed at N480 and N420, respectively.

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At the Bureau De Change, BDC window, the naira was sold at N360 to the dollar, while the Pound Sterling and the Euro closed at N480 and N420, respectively.

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Trading at the investor’ window saw the naira close at N361. 13, with a transaction of N252.92 million, while the naira traded at N305.80 at the CBN window.

Traders at the market said though the Naira lost 50 kobo to the dollar, it was still trading within the N360 band approved officially for banks and BDCs.

NAN

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