ADVERTISEMENT

Dollar crashes again at parallel market

The Naira traded at N460 to a dollar, after speculators had forced it 3 points down amid liquidity boost on Friday.

Naira notes to join list of accepted trade currencies in Britain

The News Agency of Nigeria (NAN) reports that the Naira traded at N460 to a dollar, after speculators had forced it 3 points down amid liquidity boost on Friday.

However, the Naira weakened against the Pound Sterling but maintained its Euro rate as it traded at N560 and N480, respectively.

At the Bureau De Change (BDC) window, the Naira was sold at N399 to a dollar, while the Pound Sterling and the Euro closed at N580 and N525, respectively.

ADVERTISEMENT

The Nigerian currency also traded at N305.50 at the interbank window.

In other segments of the market, Deposit Money Banks (DMBs) and Travelex, an International Money Transfer Services Operator, sold the Naira at N370 to a dollar.

Traders expressed the hope that the strengthening of the Naira would reposition the economy for greater productivity.

They, however, appealed to the CBN to sustain the liquidity boost in the market so that the Naira could sustain its gains against the dollar.

ADVERTISEMENT

NAN reports that some Nigerians, however, expressed worry that the gains of the Naira against the dollar had not translated in the reduction in the prices of goods and services.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.ng

Recommended articles

You're a huge blessing to APC - Ganduje excited over Anyim's defection

You're a huge blessing to APC - Ganduje excited over Anyim's defection

PDP sweeps all 21 chairmanship seats in Adamawa LG polls

PDP sweeps all 21 chairmanship seats in Adamawa LG polls

Crude supply issues at refinery resolved, petrol rollout begins August - Dangote

Crude supply issues at refinery resolved, petrol rollout begins August - Dangote

LG autonomy judgment may experience hitches if not well implemented – Lawyers

LG autonomy judgment may experience hitches if not well implemented – Lawyers

Air Force kills scores of terrorists in airstrikes in Kaduna

Air Force kills scores of terrorists in airstrikes in Kaduna

Cholera: Lagos Task force arrests 8 over contaminated turkey in Epe

Cholera: Lagos Task force arrests 8 over contaminated turkey in Epe

Tinubu congratulates Arise TV owner, Obaigbena on 65th birthday

Tinubu congratulates Arise TV owner, Obaigbena on 65th birthday

We don't need more states, most of the existing ones not viable - Agbakoba

We don't need more states, most of the existing ones not viable - Agbakoba

Church members trek 24.2km to promote unity, love in Abuja

Church members trek 24.2km to promote unity, love in Abuja

Pulse Sports

The Cristiano Ronaldo question and 3 biggest disappointments of EURO 2024

The Cristiano Ronaldo question and 3 biggest disappointments of EURO 2024

God won't forgive him for the stress — Celebrity Arsenal fan on Liverpool icon Roberto Firmino becoming a pastor

God won't forgive him for the stress — Celebrity Arsenal fan on Liverpool icon Roberto Firmino becoming a pastor

Transfer News LIVE: Chelsea set condition for Osimhen transfer as Arsenal AGREE personal terms with Calafiori plus all the latest DONE deals and more

Transfer News LIVE: Chelsea set condition for Osimhen transfer as Arsenal AGREE personal terms with Calafiori plus all the latest DONE deals and more

He will surpass me and others — France legend Zidane makes bold prediction for EURO 2024 star

He will surpass me and others — France legend Zidane makes bold prediction for EURO 2024 star

ADVERTISEMENT
ADVERTISEMENT