Naira sells for N745/$1 at parallel market
October 17,2022
The Nigerian currency, Naira, is starting the new week at N745 to a United States Dollar at the black market
Traders who spoke to Ripples Nigeria on Monday morning expected a mixed trading week.
At the official market, which is the Investors and Exporters (I&E) segment of the market, on Friday Naira appreciated against the American Dollar by 45 Kobo or 0.1 per cent to sell at N441.38/$1 compared with the preceding day’s value of N441.83/$1
Data from the FMDQ Securities Exchange showed that the value of forex transactions slightly went up by 6.8 per cent or $4.38 million to $69.18 million from the $64.80 million recorded in the preceding session
In the Peer-to-Peer (P2P) window, the local currency is kicking off the new week at N750/$1 compared with last week’s N745/$1
However, in the interbank segment, the Naira closed flat against the Pound Sterling and the Euro on Friday at N491.35£1 and N424.89/€1, respectively.
