AT the black market on Thursday, the average rate of the dollar was N756.8/$1, indicating the price offered in the Bureau De Change window went up by N2.3 kobo.
This means the naira in the hands of foreign exchange traders depreciated by -0.30% when Thursday’s rate is compared to Wednesday’s N754.5/$1 rate.
Also, the Nigerian currency slumped in value by 0.66% against the pound, as both currencies exchanged at 957.6/£1, in contrast to the N951.3/£1 rate reported by the black market aggregator, Naira Rates, the preceding day.
Similarly, the price of the euro increased to N823.1/€1, which is N4.1 kobo or 0.5% above the N819.02/€1 rate the previous day.
In the official market, the naira’s hold against the dollar was broken at the end of the day after the rate closed at N469.50/$1.