Naira weakens marginally against dollar

The Naira on Monday weakened marginally against the dollar at the parallel market, the News Agency of Nigeria reports.


The Nigerian currency exchanged at N358.3, weaker than N358 traded on Friday, while the Pound Sterling and the Euro closed at N480 and N420.

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

Trading at the investors’ window shows that the Naira closed at N361.78 to the dollar and a trading turnover of $106.26m; while the Naira closed at N305.90 to the dollar at the CBN window.

Meanwhile, the CBN has continued with its interventions at the foreign exchange market with the injection of $340.5m and $69.9m Chinese Yuan in the spot and short tenured forwards last Friday.

(NAN)