Currency maintains against dollar, drops against Pound Sterling, Euro [April 11, 2016]

The Naira continued to maintain its momentum against the dollar from last week on the parallel market, trading at N322 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, although it has been dropping steadily against the British Pound.

Today, the Naira continued to trade at N322/dollar - it traded at N323 on Friday, April 8, 2016. Right now, you can buy dollars at N318/dollar on the parallel market.

READ: Currency gains against Dollar, Pound, drops slightly against Euro [March 29, 2016]

For other foreign currencies, you can buy the British Pound at N450/pound on the parallel market, or sell for N445/pound, highlighting about N5 gain for the naira against the British currency for sellers.

The Euro is also trading for N365/euro, while you can sell for N360/euro, showing a now obvious slump against the Euro. These figures are similar to the ones which the naira posted by the close of business last week, and earlier today, give or take a few naira (The Naira traded at N360/Euro this morning as opposed to the N365 it is currently trading at).

Note that these figures are the current evening 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.