Currency gains slighlty against Euro, steadies against Dollar, Pound Sterling [April 18, 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, the British Pound, while it has gained slightly against the Euro.

Today, the Naira traded at N321/dollar in the morning, before dropping to N322. Right now, you can buy dollars at N322/dollar on the parallel market. Analysts say the recent deal with the Chinese government has helped the Naira strengthen against the dollar.

READ: Currency steadies against Dollar, Pound Sterling, Euro [April 13, 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 last week.

The Euro is also trading for N362/euro, while you can sell for N357/euro - the Naira traded at N365 this morning. These figures are similar to that which the naira posted by the close of business last week, and earlier today.

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.