Naira depreciates against some foreign currencies

LAGOS – The Naira on Friday depreciated against the three major currencies at the three segments of foreign exchange market.

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The three markets are the Official Market, Bureau De Change (BDCs) and Black Market.

At the Bureau De Change, the currency sold for N168 to the dollar as against the N165 that it sold for on Monday, Aug. 11.

At the Official Market, it sold for 155.23, the same amount it traded for on Monday.

At the Black Market, it went down by N2 from N168 to sell for N170 to the dollar. [eap_ad_1] But against the Pound Sterling at the Official Market, it dropped N1.75 kobo to sell for N260.69, down from the N258.94 it recorded on Monday.

The currency also depreciated at the Bureau De Change, losing N3 against the Pound Sterling at the close of trading.

The Naira sold for N288 from the N285 it traded on Monday, Aug. 11.

At the Black Market, the Naira sold against the Pound Sterling for N288. This has been the price since Aug. 4.

Against the Euro, the Naira went for N207.62 at the official market, as against N207.95.

At the Bureau de Change, it exchanged for N222 against the Euro, when compared with the N220 it sold on Monday, indicating a loss of N2. (NAN)


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