The Naira on Friday
fell at the parallel market as dollar scarcity worsened ahead of the Christmas
season.
The
Nigerian currency exchanged at N487 to a dollar, from N485 it had maintained
for close to two weeks, while the Pound Sterling and the Euro closed at N605
and N510 respectively.
At the Bureau De Change window, the Naira closed at N399 to a
dollar, CBN-controlled rate, while the Pound Sterling and the Euro traded at
N606 and N515 respectively.
The Naira remained
stable at the inter-bank market, trading at N305 to a dollar.
Traders
said that the demand for dollars was putting pressure on the Naira.
-NAN
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