Naira ends the week at N320 to US Dollar

Naira ends the week at N320 to US Dollar

Friday, February 26, 2016 8:12 pm

The Naira on Friday depreciated against the dollar at the parallel market closing at N320.

The Naira lost N10 to a dollar from N310 exchanged on Thursday. There was panic in a segment of the market where the rate quoted on Thursday was as high as N350.

At the official market, the Nigerian currency closed at N197 to the dollar.

However, the Naira to the Pounds in the same market traded at N435 as against the N450 traded a day before.

The Naira gained N15 to the Pounds.

It also appreciated by N10 against the Euro, exchanging at N360 from the N370 sold on Thursday.

Traders in the parallel market were optimistic that the Naira would gain further by next week

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