Naira sells N322 to a dollar at parallel market

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BUNDLES OF DOLLAR NOTES
BUNDLES OF DOLLAR NOTES

The naira on Monday traded at N322 to a dollar at the parallel market in Lagos.

The News Agency of Nigeria (NAN) reports that the currency was stable the previous week, maintaining a value of between N315 and N320 to a dollar.

However, the naira traded at N450 and N360 for Pound Sterling and the Euro respectively at the day’s transaction.

The naira traded for N197 to a dollar at the official Central Bank of Nigeria (CBN) rate.

Traders at the parallel market said the proposed currency swap deal between Nigeria and China would shore up the value of the naira when implemented.

(NAN)

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About Haruna Magaji 2446 Articles
Haruna Magaji is a journalist, foreign policy expert and closet musician. He is a graduate of ABU Zaria and a member of the Nigerian union of journalists. JSA, as he is fondly called, resides in Suleja, Abuja. email him at - [email protected]

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