Naira Slides In Black Market, Gains At Official Window

The naira slipped against the US dollar on Friday, August 29, recording a marginal depreciation in the parallel market.

Currency traders in Abuja told Economic Confidential that the naira exchanged at ?1,540/1 for buying and ?1,550/1 for selling, weaker than Thursday's close of ?1,545/1, representing a ?5.33 decline.

In contrast, at the Nigerian Foreign Exchange Market NAFEM, the naira appreciated slightly to ?1,531/1 on Friday, compared to ?1,535/1 the previous day.