Naira Currency gains against Dollar, Pound, drops slightly against Euro [March 29, 2016]

Today, the Naira continued to trade at N323/dollar, which it traded at as at yesterday evening.

  • Published:
A trader changes dollars with naira at a currency exchange store in Lagos February 12, 2015. play A trader changes dollars with naira at a currency exchange store in Lagos February 12, 2015. (REUTERS/Joe Penney)
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The Naira continued to maintain its momentum against the dollar from last week on the parallel market, trading at N323 to the dollar for buyers. The speculative trend of the currency seems to have died out as it maintains a steady position against the dollar, although it has been dropping steadily - although it gained ever so slightly - against the British Pound.

Godwin Emefiele play CBN Governor, Godwin Emefiele (Reuters)

 

Today, the Naira continued to trade at N323/dollar, which it traded at as at yesterday evening. Right now, you can buy dollars at N318/dollar on the parallel market.

READ: Currency continues to drop against British Pound, Euro, remains flat against dollar [March 22, 2016]

For other foreign currencies, you can buy the British Pound at N445/pound on the parallel market, or sell for N440/pound, highlighting about N5 gain for the naira against the British currency.

CBN Building play

CBN Building

(Daily Independent)

 

The Euro is also trading for N355/euro, while you can sell for N350/euro, showing a minimal slump against the Euro. These figures are similar to the ones which the naira posted by the close of business last week, and earlier today, give or take a few naira.

Note that these figures are the current evening rate at which the naira is trading on the black market. We will be bringing you daily rates so stay with Pulse Money to keep you updated.

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