The Naira on Monday, traded at N322 to a dollar at the parallel market in Lagos. The currency was stable in the previous week, maintaining 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 also maintained N197 at the official Central Bank of Nigeria (CBN) rate. Traders at the parallel market said that the proposed currency swap deal between Nigeria and China would shore up the value of the naira when implemented.
Credit: vanguardngr
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