Naira depreciates against dollar, exchanges for N390/$1 at parallel market

The Naira on Thursday depreciated slightly against the dollar at the parallel market.

The Nigerian currency lost two points to close at N390 to the dollar, while the Pound Sterling and the Euro traded at N495 and N415, respectively.

At the Bureau De Change (BDC) window, the naira was sold at N362, while the Pound Sterling and the Euro closed at N490 and N420, respectively.

Trading at the interbank window saw the naira close at N305.85 to the dollar.

The naira, however, appreciated marginally at the investment and export window, as it closed at N379.04, from the N379.89 it opened earlier today.

Traders at the market are hopeful that the naira would bounce back as the CBN sustained liquidity boost to the BDC sub sector.

NAN