Naira sells N322 to a dollar at parallel market

Naira sells N322 to a dollar at parallel market
April 18 22:19 2016

The naira on Monday traded at
 N322 to a dollar at the parallel
market in Lagos.
The currency
was stable the previous week,
maintaining a value of between
N315 and N320 to a dollar.

However, the naira traded at
N450 and N360 for Pound Sterling
and the Euro respectively at the
day’s transaction.
The naira traded for N197 to a
dollar at the official Central Bank
of Nigeria (CBN) rate.

Traders at the parallel market
were of the view that the proposed currency swap
deal between Nigeria and China
would shore up the value of the
naira when implemented.

(NAN)