Naira Depreciates Slightly Against Dollar

The naira, on Friday, depreciated slightly against the dollar at the close of trading at the parallel market.

The News Agency of Nigeria , reports that the nation’s currency lost about N3 to exchange between N342 and N345, from N341 it traded on Wednesday.

The Nigerian currency also exchanged between N480 and N490; and N380 and N385 against the pound sterling and the euro respectively.

Meanwhile, the official rate at the Central Bank of Nigeria (CBN), remained at N197 to a dollar.

Traders at the market expressed optimism that given the renewed activities in the market, the naira would make a rebound soon.

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