Naira retains value against USD at $1/N366

Naira maintained its value against the US dollar at $1/N366 in the parallel market despite maintaining an average rate of $1/N360 since the beginning of February 2020.

According to data collated from various black market dealers on the mainland and island of Lagos state where forex is sold, the currency also dipped against Pounds Sterling as it currently costs ₤1/N470 for sellers and ₤1/ N475 for customers buying.

The US dollar is bought at the parallel market at $1/N360 and sells for an average of $1/N366 while Euro is bought for €1/N387 and sold for €1/N403.