The Naira on Friday depreciated in most major segments of the foreign exchange market, the News Agency of Nigeria (NAN) reports.
The
Nigerian currency fell by N2.24 to exchange at N308.69 to the dollar at
the interbank market, from N306.93 recorded on last week Thursday.
At
the Bureau De Change (BDC) segment of the market, it closed at N420 to
the dollar, N550 to the Pound Sterling and N465 against the Euro.
At
the parallel market, naira lost N2 to close at N425 against the dollar
from N423 it traded on Thursday, while it exchanged at N545 and N470
against the Pound Sterling and the Euro, respectively.
Traders
at the market said that in spite of the reduction in the rush for the
greenback to meet up school fees payment, the naira continued to
depreciate.
They said that the demand for dollars for importation far outstripped its supply.
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