By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian naira on Wednesday traded N210 to one (1) dollar in the black market same position it traded the previous session, Proshare daily exchange monitor said.
“The existing level of activities in the parallel market remains encouraging,” the report added.
However, Investment One Research reported the local currency weakened against the greenback slipping 0.93 percent to close at N198.95/$1.
Similarly, against the European currencies, it closed weaker by 0.85 percent against the pound sterling and 0.63 percent relative to the euro, Investment One reported.
The reported further affirmed that at the close of the session, the local currency traded against the Key European currencies at N296.12/?1 and N213.34/€1 respectively.
While Proshare reported the naira also exchanged against other foreign currencies as follows: pounds sterling was selling for N325/£1 while the euros traded at N236/€1.
Cordros report stated that the naira had added three (3) basis points (bps) and 46 bps against the greenback and euro to trade at N199.00/$1 and N213.40/€1 respectively.
“However, the local currency declined by 64 bps on the pound to trade at N295.80/£1,” the Cordros report added.
The Central Bank of Nigeria (CBN) in its usual e-mail statement said the interbank closing rate remains at N197 to a dollar.
