Naira depreciates against dollar at parallel market

Naira depreciates against dollar at parallel market

- The Naira has depreciated against Dollar but stayed unchanged against Pound and Euro at parallel market

- Trading at the parallel market saw the Naira close at N364/$1 on Tuesday, May 22

- The Pound Sterling and the Euro closed at N498 and N430 respectively

The Nigerian Naira on Tuesday, May 22, slipped against the American Dollar at the parallel market.

According to NAIJ.com findings, the local currency dropped one point to close the day at N364/$1 from the previous rate of N363/$1, but maintained same rate of N498 and N430 against Pound Sterling, and Euro respectively.

Naira depreciates against dollar at parallel market

Naira depreciates against Dollar

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NAIJ.com previously reported that the Nigerian Naira on Monday, May 21, appreciated at the parallel exchange market sector after its steady appreciation was halted.

It was gathered that the local currency gained one point against the greenback to close the day at N363/$1.

Also, the local currency maintained the N498 per Pound rate and slipped to N445 per Euro.

Can 1 Naira ever become 1 US dollar again on the Forex market? - on NAIJ.com TV.

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Source: Naija.ng

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