Naira records mixed trading at official, parallel markets

The Naira recorded marginal increase against the dollar at the official and Bureau de Change markets on Friday, the News Agency of Nigeria (NAN) reported. At the official market, the Naira which opened at N155.23k to a dollar on Monday closed at N154.2k on Friday, gaining N1.03k.

The currency also appreciated against the dollar at the Bureau de Change during the week by N1.5k, closing at N164 from N165.5k it opened on Monday. At the parallel market, the Naira closed at N165, the same price it sold on Monday, May 5. The Naira, however, lost 77k to the Pound Sterling. The Naira, which opened at N261.73k on Monday at official market, closed for the week at N262.5k to the Pound Sterling on Friday.

At the Bureau de Change to the Pound Sterling, the Naira gained 50k as it opened at N270.5k on Monday and closed N171 on Friday.

It remained stable against the Pound Sterling at the black market during the week selling at N270. At the official market, the Naira sold for N214.2k to the Euro on Friday from the N215.43 it opened on Monday thereby appreciating by N1.23k.

The Naira, at the Bureau de Change, however, lost N1against the Euro, selling at N228 on Friday from the N227 it opened at the beginning of the week. The currency was also relatively stable at the black market selling at N229 to the Euro.