The Naira on Friday
depreciated in most major segments of the foreign exchange market.
The Nigerian currency fell by N2.24 to exchange
at N308.69 to the dollar at the interbank market, from N306.93 recorded on
Thursday.
At the Bureau De Change it closed at N420 to
the dollar, N550 to the Pound Sterling and N465 against the Euro.
At the parallel market, naira lost N2 to close
at N425 against the dollar from N423 it traded on Thursday, while it exchanged
at N545 and N470 against the Pound Sterling and the Euro, respectively.
Traders at the market
said that in spite of the reduction in the rush for the greenback to meet up
school fees payment, the naira continued to depreciate.
They said that the demand for dollars for
importation far outstripped its supply.
-NAN
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