Naira depreciates marginally to dollar at parallel market
Market turnover at the (I&E) window stood at 66.89 million dollars.
The fate of the naira appears to hang in a balance as Nigeria slips into recession [Premium Times]
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![Yemi Cardoso, the Governor of the Central Bank of Nigeria [TechEconomy]](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 "Yemi Cardoso, the Governor of the Central Bank of Nigeria [TechEconomy]")
The Pound Sterling and the Euro traded at the parallel market at N622 and N575, respectively.
At the Bureau De Change (BDC) segment, the naira was sold at N386 to a dollar, while the Pound Sterling and the Euro closed at N622 and N575, respectively.
Trading at the Import and Export (I&E) window saw the naira also losing marginally to a dollar as investors bought a dollar at N386 from N385.83 traded on Friday.
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Market turnover at the (I&E) window stood at 66.89 million dollars.
As the nation's economy technically goes into recession, the fate of the naira appeared to hang in a balance in the face of fiscal and monetary policy directives targeted at piloting the economy out of recession.
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