Naira goes south against the U.S. dollar

By Abankula

The Nigerian Naira depreciated against the US dollar in the parallel market on Monday in contrast to the massive gains it recorded last week.

According to market monitors, ngnrates.com, the US Dollar is being traded at ‚¦445.00 today, 7 September.

This is N5 more than last week’s price of N440. The buying rate is N430.

The dollar had rolled into the market at N465, but it slumped to N440 on Tuesday, on news that the CBN will soon be selling dollars to the Bureaux de Change.

Today’s rate still gives the Naira a %4.30 appreciation for the Naira, compared with the opening rate last week.

“When we look at the whole month, we see that USD rate started September at ‚¦440.00 on Tuesday, September 01, 2020. As of today with US Dollar being traded at ‚¦445.00, we see a %1.14 rise for USD to Naira exchange rates for this September,” ngntrade noted.

-PM News

Short URL: http://newnigerianpolitics.com/?p=57468

Posted by on Sep 9 2020. Filed under Africa & World Politics, American Politics, Economy, Latest Politics, Naira (Currency), National Politics, Top Stories. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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