The Naira to remain flat against dollar at the parallel and official Market. It expected not to rise or fall significantly at the parallel and official foreign exchange market as the economy slows and demand for foreign exchange eases. Some Traders said the main reason for this will be the delay in signing of the 2016 budget.
The News Agency of Nigeria reported that the Nigerian currency lost N1 to the dollar from N320 rate on Wednesday. The naira still maintained N197 to the dollar at the official CBN segment of the market.
The naira weakened slightly against the dollar at the parallel market on Friday as it exchanged at N321 to the dollar. The naira also fell against the pound and the Euro on Friday to N452 and N362, respectively from their previous rates of N450 and N360.