Naira Currency steadies, unchanged against all major currencies [April 26, 2016]

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.

  • Published:
A money dealer counts the Nigerian naira on a machine in his office in the commercial capital of Lagos, file. REUTERS/Akintunde Akinleye play A money dealer counts the Nigerian naira on a machine in his office in the commercial capital of Lagos, file. REUTERS/Akintunde Akinleye
24/7 Live - Subscribe to the Pulse Newsletter!

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

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.

Godwin Emefiele play CBN Governor, Godwin Emefiele (Reuters)

 

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 obvious.

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

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

Nigeria's Finance Minister Kemi Adeosun speaks at a news conference in Lagos, Nigeria, April 9, 2016. play Nigeria's Finance Minister Kemi Adeosun speaks at a news conference in Lagos, Nigeria, April 9, 2016. (REUTERS/Akintunde Akinleye)

 

The Euro is also trading for N363/euro, while you can sell for N360/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 as well.

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.

Do you ever witness news or have a story that should be featured on Pulse Nigeria?
Submit your stories, pictures and videos to us now via WhatsApp: +2349055172167, Social Media @pulsenigeria247: #PulseEyewitness & DM or Email: eyewitness@pulse.ng. More information here.