The Naira yesterday closed at 500 per US dollar, the same rate it exchanged on Wednesday when it recorded first depreciation of the week, but foreign exchange traders are optimistic that the Naira holds steady outlook by next and may not drop further at the parallel market. The naira, late yesterday, was bought at 498 and sold at […]
The naira on Wednesday depreciated again to 500 per dollar. At the close of the market, the value of the local currency which had appreciated to N498 to the dollar on Tuesday exchanged between 499 or 500 to a dollar at the parallel market. The naira, however, remained stable at N305.25 to the dollar on the interbank […]
The 498 per dollar closing rate of the naira at the end of last week confirmed the assessment by foreign exchange traders and some industry experts that the naira would not cross the N500 to the dollar psychological watermark for the whole week at the parallel market. This is even as the nation’s interbank lending […]
Following the prediction by some analysts that the naira may hit N500 to the US dollar at the parallel market, the local currency yesterday fell further to close at 492 per dollar against 491 it was traded on Tuesday. The naira sold at 486 to a dollar but closed at 492, while Euro and […]