Business Naira Weakens Against Dollar At Parallel Market

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The naira weakened further against the dollar at the parallel market on Monday, exchanging at N357 for a dollar as against N350 it traded on Friday.

But maintained stability with the pounds sterling and euro, trading at N505 and N397 to each of them, respectively.

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Meanwhile, pending the release of modalities for the operation of the proposed flexible exchange rate, the official rate remained at N197 to a dollar.

Traders at the market decried the delay in the release of modalities as proposed by the Central Bank of Nigeria (CBN).
 
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