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Naira falls against major currencies

By BusinessNews Staff on August 2, 2013

The Naira depreciated marginally against the dollar at the official segment of the Foreign Exchange Market on Friday.

The Naira, which opened at N154.76 to a dollar on Monday, July 29, closed at N155.26 on Friday.

The currency, however, slightly appreciated against the pound sterling, at the official market.

The Naira, which opened at N237.91 to the pound sterling on Monday, closed for the week at N236.39 to the pound on Friday.

Also, the Naira also slightly appreciated against the Euro on Friday, closing at N204, compared to N205.44 it was sold on Monday, July 29.

The currency, however, remained firm against the dollar at the Bureau de Change segment this week.

The Naira, which was N160 to the dollar at the Bureau de Change on Monday, closed at the same amount on Friday.

The Naira also firmed against the pound and euro at N245 and N212, respectively, at the Bureau de Change since the beginning of the week.

The currency was also relatively stable at the black market this week, trading at N160 to the dollar.

The Naira was traded for pounds at between N246 and N247 to the dollar at the black market, while it was exchanged at N207 to the euro.

[Nigerian Telegraph]