Naira falls slightly against dollar

The Naira on Thursday depreciated slightly against the dollar at the parallel market.

The Nigerian currency lost two points to close at N390 to the dollar, while the Pound Sterling and the Euro traded at N495 and N415, respectively.

At the Bureau De Change window, the naira was sold at N362, while the Pound Sterling and the Euro closed at N490 and N420, respectively.

Trading at the interbank window saw the naira close at N305.85 to the dollar.

Currency and financial experts have said the local currency may not appreciate above 380/dollar despite the spate of dollar sale by the central bank.

The CBN on Thursday sold $100m to authorised dealers.