The Naira continued to maintain its momentum against the dollar from last week on the parallel market, trading at N323 to the dollar.
Currency steadies against Dollar, fluctuates against Pound, Euro [May 11, 2016]
Right now, you can buy dollars at N323/dollar on the parallel market.
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
Recommended articles
![Zimbabweans have 21 days to exchange old banknotes for new ones (image used for illustration) [Reuters]](data:image/svg+xml;charset=utf8,%3Csvg%20xmlns%3D'http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg'%20width%3D'100'%20height%3D'100'%20data-ring-placeholder%3D'1'%3E%3C%2Fsvg%3E "Zimbabweans have 21 days to exchange old banknotes for new ones (image used for illustration) [Reuters]")
The speculative trend of the currency has effectively died out in recent weeks as it maintains a steady position against the dollar, but with constant fluctuations against the British Pound and the Euro.
Today, the Naira traded at N323/dollar in the morning. Right now, you can buy dollars at N323/dollar on the parallel market. Analysts say the recent deal with the Chinese government has helped the Naira strengthen against the dollar.
ADVERTISEMENT
For other foreign currencies, you can buy the British Pound at N460/pound on the parallel market, or sell for N455/pound, a five pound gain from the beginning of the week when it traded for N460/pound.
The Euro is also trading for N364/euro, while you can sell for N360/euro - the Naira traded at N364 this morning. These figures are similar to that which the naira posted by the close of business yesterday, 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.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Recommended articles
Troops end 3 senior terrorist commanders, 189 others, arrest 341 suspects
Lagos Red Line to begin test-run soon, nearly 2 months after inauguration
Fresh reaction trails court's reinstatement of Ganduje as APC chair
The unveiling of a refreshed Four Points by Sheraton Hotel, Lagos
Kia driver who caused accident involving Ghana’s new train reports himself to Police
FG seeks German government cooperation to reform Nigeria Police
Inside story of how Ghana’s new train got involved in accident on a test run
Petrol price stands at ₦696.79 in March – Report
Iran threatens to trigger powerful missiles should Israel attack its nuke sites
Pulse Sports
Lionel Messi's son breaks the internet after scoring five goals for Inter Miami
Naija Stars Abroad: Onyedika, Boniface, and Osimhen shine across Europe
Victor Osimhen and Tobi Amusan make list of Forbes’ 30 under 30 Class of 2024
ADVERTISEMENT