Naira Closes Mixed at Forex Market Segments

January 9, 2018
naira depreciate

By Modupe Gbadeyanka

The Naira started the second trading week of 2018 on a mixed note at the black market and the Central Bank of Nigeria (CBN) window.

At the black market segment on Monday, the Naira traded flat against the Dollar and Pound, while it depreciated against the Euro yesterday.

Business Post reports that local currency lost N2 against the Euro, trading at N432 at the parallel market versus N434 it was sold in the last trading session.

However, the Nigerian currency exchanged at N363 to the Dollar at the black market, while it exchanged at N486 to the Pound.

But at the CBN window, the local currency appreciated against the three main foreign currencies.

The Naira was sold at N305.90 to the Dollar at the window in contrast to N305.95 it was exchanged in the last trading session on Friday.

In addition, the Pound was exchanged at N414.28 compared with N414.56 last Friday, while the Euro was traded at N366.71 versus N368.70 in the last trading day.

Modupe Gbadeyanka

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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