The value of the Nigeria’s currency (naira) has yesterday depreciated against
the dollar by N3, to close at N208 at the Bureau De Change (BDC) from the
N205 it sold for on Friday.
According to the News Agency of Nigeria (NAN), the development was an appreciation following the N224 it sold for before the March 28 presidential
election. However, the Naira remained stable at N206 to the dollar since Friday at the
parallel market, otherwise known as the black market.
The currency traded against the pound at N301.50k at the BDCs and the black
The Naira also exchanged for the Euro at N228, from the N230 it traded for
on Friday. Meanwhile, the official rate is still N197 to the dollar at the Central Bank of Nigeria.