Speculation weakens naira further at parallel market

The activities of illegal forex operators further weakened the naira against the dollar at the parallel market yesterday, as the local currency closed at N562/$1 compared with N5557 per dollar on Monday , according to data obtained from (a website that collates parallel market rates in Lagos). The naira also fell against the Pound Sterling and the Euro yesterday closing at N760/£ and N648/respectively compared with N750/£ and N636/ on Monday according to Data obtained from FMDQ however showed that the naira closed slightly stronger at N412.06/$1, at the Investors and Exporters’ (I&E) window yesterday compared with N412.46 per dollar earlier in the day.




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