Naira Currency maintains against Dollar, Pounds Sterling, gains against Euro [April 25, 2016]

Right now, you can buy dollars at N319/dollar on the parallel market.

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Pulse Daily Naira-Foreign exchange sheet play

Daily Naira-Foreign exchange sheet

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The Naira continued to maintain its momentum against the dollar from last week on the parallel market, trading at N322 to the dollar.

In recent weeks it has maintained a steady position against the dollar and the British Pound, while it has gained slightly against the Euro and that trend continues today.

A trader changes dollars with naira at a currency exchange store in Lagos, Nigeria in this February 12, 2015 file photo. Nigeria’s central bank is expected to make an interest rate decision this week. REUTERS/Joe Penney/File play A trader changes dollars with naira at a currency exchange store in Lagos, Nigeria in this February 12, 2015 file photo. Nigeria’s central bank is expected to make an interest rate decision this week. REUTERS/Joe Penney/File

 

Today, the Naira traded at N322/dollar in the morning, and has remained at that level. Right now, you can buy dollars at N319/dollar on the parallel market. Analysts say the recent deal with the Chinese government has helped the Naira strengthen against the dollar, although the effects of that deal are not yet very visible.

READ: Currency maintains against Dollar, Pound Sterling, Euro [April 19, 2016]

For other foreign currencies, you can buy the British Pound at N452/pound on the parallel market, or sell for N448/pound, same prices which the naira traded at against the Pound Sterling yesterday and early this morning, give or take a few naira.

Central Bank Governor Godwin Emefiele speaks at the monthly MPC meeting in Abuja, Nigeria, September 22, 2015. REUTERS/Afolabi Sotunde play Central Bank Governor Godwin Emefiele speaks at the monthly MPC meeting in Abuja, Nigeria, September 22, 2015. REUTERS/Afolabi Sotunde

 

The Euro is also trading for N363/euro, while you can sell for N358/euro - same rate the Naira traded at this morning. These figures are similar to that which the naira posted by the close of business last week, and earlier today.

Note that these figures are the current midday 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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