Naira goes into the weekend bruised and battered by U.S. Dollar - P.M. News

Naira goes into the weekend bruised and battered by U.S. Dollar

CBN dep. gov explains depreciation in Naira’s value

Naira battered in parallel market

The Naira went into the weekend bruised and battered by the U.S. Dollar and other major foreign currencies.

Though its value remains unchanged at the CBN window, the Naira slumped further in the BDC and black market.

In the black market, it dipped to N545 to the dollar on Friday, about 0.9 percent depreciation compared to Thursday’s rate of N540.

At the BDC, it slumped by 2.8 percent from N530 to N547, according to Ngnrates.com

It retains a stable rate of 409.47-410.47 at the official CBN rate.

There was no respite for the Nigerian naira with the British pound as it fell 0.4 percent to N738-743.

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BDC sell rate was N745, with buy rate at N738.

Against Euro, the naira also crashed by 0.6 percent.

The commanding buy and sell rate is now N630-N636 per Euro.

The BDC rate depreciated 1.4 percent. The buy and sell rate is

N630-N635.