Thursday, July 23, 2015

Naira falls across markets

Naira on Wednesday depreciated in valued against the US dollar, across all market segments as the Central Bank of Nigeria (CBN) adjusted its clearing rates to N197/$ from N196.65k/$. Naira weakened against dollar by N1 or 0.42 percent at the Bureau De Change segment and N1.50k/$ or 0.62 percent at the parallel market.               Consequently, after trading on Wednesday, the local currency closed at N241/$ compared to N240/$ the previous day at the BDC segment and N242.50k/$ as against N241/$ on Tuesday at the parallel market.

At the inter-bank market, Naira slide by N0.36k or 0.18 percent against the dollar as it closed at N198.04k/$ compared to N197.68k/$ the previous day according to data obtained from Financial Markets dealers Quotations (FMDQ)

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