Markets

Naira weakens at investors window

by HOPE MOSES-ASHIKE

May 11, 2017 | 11:13 pm
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The nation’s currency weakened to N383.28 per dollar after trading on Thursday at the investors window. This showed N2.39k depreciation from N380.89k quoted the previous day according to the data obtained from FMDQ.

At the inter-bank spot foreign exchange, the local currency traded at N305.60k to the dollar, the same level it sold on Wednesday, FMDQ data revealed.

Naira was quoted at the rate of N388 per dollar at the black market on Thursday. It weakened by N1.00k compared to N387/$ traded the previous day.

The CBN has been intervening aggressively since February to try to narrow the spread between the official and black market rates and has sold more than $4 billion.


by HOPE MOSES-ASHIKE

May 11, 2017 | 11:13 pm
  |     |     |   Start Conversation

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