The fate of the naira appears to hang in a balance
as Nigeria slips into recession [Premium Times]
,
Market turnover at the (I&E) window stood at
66.89 million dollars.
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.
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.