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Naira sells for N745/$1 at parallel market

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The Nigerian currency, Naira, is starting the new week at N745 to a United States Dollar at the black market, IgbereTV reports

Traders who spoke to Ripples Nigeria on Monday morning expected a mixed trading week.

At the official market, which is the Investors and Exporters (I&E) segment of the market, on Friday Naira appreciated against the American Dollar by 45 Kobo or 0.1 per cent to sell at N441.38/$1 compared with the preceding day’s value of N441.83/$1.

 

Data from the FMDQ Securities Exchange showed that the value of forex transactions slightly went up by 6.8 per cent or $4.38 million to $69.18 million from the $64.80 million recorded in the preceding session.

In the Peer-to-Peer (P2P) window, the local currency is kicking off the new week at N750/$1 compared with last week’s N745/$1.

However, in the interbank segment, the Naira closed flat against the Pound Sterling and the Euro on Friday at N491.35£1 and N424.89/€1, respectively

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