Naira Trades Flat at Black Market, Falls at Interbank, Rises at I&E

By Modupe Gbadeyanka

At the currency market on Monday, the Nigerian Naira traded mixed at various segments of the market.

While the local currency depreciated against the Dollar at the interbank, it appreciated at the Investors and Exporters (I&E) segment, and traded flat at the parallel market.

Business Post reports that the Naira, which traded at N305.95 per Dollar last Friday, was exchanged at N306 per Dollar on Monday, representing a decline of 5 kobo.

In addition, the local currency, which was sold at N362.67 to a Dollar at the I&E window in the previous session, it went for N361.96 yesterday.

However, the local currency closed unchanged on Monday at N360 to the Dollar at the parallel market.

Also at the black market, the Naira appreciated by N1 against the British Pound Sterling to close at N477 against N478 it traded the previous session, while it remained unchanged against the Euro at N418 at the same segment.