Currency falls to N350/$ at interbank market

Trading at the parallel market saw the naira exchanged at N470 to the dollar.

Nigerian naira notes are seen in this picture illustration March 15, 2016.  REUTERS/Afolabi Sotunde

The Naira on Monday fell freely at the official interbank market, the News Agency of Nigeria (NAN) reports.

The naira exchanged at N350 to a dollar from N328 it traded last Friday.

At the Bureau De Change (BDC) segment, the naira closed at N385 against the dollar, CBN rate, while the Pound Sterling and the Euro closed at N564 and N510 respectively.

Trading at the parallel market saw the naira exchanged at N470 to the dollar, while the Pound Sterling and the Euro traded at N560 and N510 respectively.

Traders at the market express hope that the naira would see better days as Diaspora remittances was expected to boost liquidity at the yuletide season.

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