- Depreciation
The Naira lost marginally to the dollar at the parallel market in Lagos on Monday, exchanging at N382 to a dollar, lower than N380 to a dollar traded on Friday.
The Pound Sterling and the Euro traded at the parallel market at N622 and N575, respectively, Ekohotblog gathered.
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At the Bureau De Change (BDC) segment, the naira was sold at N386 to a dollar, while the Pound Sterling and the Euro closed at N622 and N575, respectively.
Trading at the Import and Export (I&E) window saw the naira also losing marginally to a dollar as investors bought a dollar at N386 from N385.83 traded on Friday.
Market turnover at the (I&E) window stood at 66.89 million dollars.
As the nation’s economy technically goes into recession, the fate of the naira appeared to hang in a balance in the face of fiscal and monetary policy directives targeted at piloting the economy out of recession.
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