• Naira plunges further against dollar as 3rd OTC Futures contract matures

    Naira plunges further against dollar as 3rd OTC Futures contract matures

    According to reports, the Naira on Wednesday continued its free fall against the dollar just as the 3rd OTC Futures Contract settled notionally at $180 million, the News Agency of Nigeria reports.

    At the parallel market, the naira exchanged between N460 and N490 to the dollar, while Pound Sterling and the Euro exchanged between N452 and N570 and N488 and N570 on Tuesday.

    Trading at the Bureau De Change showed that the naira closed at N460, N570 and N490 against the dollar, […]

  • Naira depreciates against dollar at parallel market

    Naira depreciates against dollar at parallel market

    The Naira on Monday depreciated against the dollar at the parallel market, against the expert predictions that it would firm due to forex sales to bureau de change (BDC) operators.

    The currency lost N3 to exchange at N393, from N390 posted on Friday; while it traded at N505 and N435 against the pound and the euro respectively.

    The naira appreciated at the official interbank market to close at N317.34, from N320.25 posted on Friday.

    Traders at the market said that the demand for […]