Business Naira Falls 0.82% to 370 Against Dollar At Parallel Market



Nigerian naira fell 0.82 per cent to 370 against the dollar at the parallel market despite Central Bank of Nigeria, CBN, over $400 million forex intervention on Monday.

The currency also fell to 411 against Euro but appreciated by N2 to 465 against rhe Pound sterling at the black market segment.

At the official market, naira gained 0.02 per cent to 305.65 to the dollar while the investors and exporters window depreciated by 0.01 per cent to 373.2 to a dollar.


This development is coming as the Central Bank of Nigeria intervened in the inter-bank foreign exchange market with $413.5 million on Monday, to guarantee liquidity and sustain the rates in the system.