Naira falls to 1,233/$ at parallel market

The Nigerian currency, the Naira  again fell to 1,233/$ on Monday at the parallel market, according to Bureau de Change operators in Lagos.

Some BDC operators made this known while speaking to newsmen on Monday, they  said, the local currency which was bought and sold at 1,228/$ and 1,233/$ had traded at the same rate on Friday.

According to figures obtained from Abokifx,  the Pound Sterling was bought and sold at 1,550/ £ and 1,565/ £, while Euro was 1,290/€ and 1,305/€ respectively.

A BDC operator in Lagos, simply known as Ibrahim, said, “The naira traded at 1,220/$ a week earlier, but weakened to 1,233/$ by the end of the week.”

Another BDC operator who gave his name as Akeem Yusuf, said, “The naira was sold for 1,233/$ on Friday; Today Monday, it did not change because people are not buying.” The naira weakened slightly at the parallel market by 1.1 per cent or N13.

However, on the Investor & Exporter forex window, the naira appreciated slightly on Friday, according to figures obtained from the FMDQ.

The local currency which closed at   889.63/$ on Thursday, appreciated slightly by 0.42 per cent or N3.75 to close at 885.88/$ on Friday.

However, on the Investor & Exporter forex window, the naira appreciated slightly on Friday, according to figures obtained from the FMDQ.

Trading commenced at the official market at N915/$ and reached a high of N1,248/$ before closing at N885.88. The market recorded a total turnover of $92.16m on Friday.