Currency steadies against dollar, still drops against Pound Sterling, Euro [April 12, 2016]

The Naira continued to maintain its momentum against the dollar from last week on the parallel market, trading at N323 to the dollar.

The speculative trend of the currency has effectively died out in recent weeks as it maintains a steady position against the dollar, although it has been dropping steadily against the British Pound.

Today, the Naira continued to trade at N323/dollar - it traded at N322 yesterday, April 11, 2016. Right now, you can buy dollars at N320/dollar on the parallel market - an increase of about N2.

READ: Currency maintains against dollar, drops against Pound Sterling, Euro [April 11, 2016]

For other foreign currencies, you can buy the British Pound at N450/pound on the parallel market, or sell for N445/pound, same prices which the naira traded at against the Pound Sterling yesterday.

The Euro is also trading for N365/euro, while you can sell for N362/euro - another N2 drop, showing a now obvious slump against the Euro. These figures are similar to the ones which the naira posted by the close of business yesterday, and earlier today, give or take a few naira (The Naira was being bought at N360/Euro this morning as opposed to the N362it is currently bought at).

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.