TheCable

The naira on Friday depreciated against the dollar, dropping by N1.5k at the Bureau De Change (BDC) market. This comes amidst tensions over the new capitalisation for BDCs by the Central Bank of Nigeria.

Reports show that the naira was traded at N166.5k, as against N165, which it traded on Monday, June 23 at the market.

At the official market, the currency was sold at N155.23k to the dollar, an amount it maintained since June 23.

Similarly, it dropped by N8 against the pound sterling at the BDC market, selling at N288, down from N280 it recorded on Monday.

The currency depreciated in transactions at the official market, recording 24 kobo loss against pound sterling, as it was sold for N264.36k against the N264.12k it traded on Monday.

At the black market, naira was traded against the pound sterling the same amount it was sold at the BDC market.
Against the Euro at the bureau de change, naira was sold at N235 from N224 it was sold on Monday.

Similarly, at the official market, it exchanged at N211.43k against the euro, compared with N211.26k it was sold last Friday.

The naira against the euro at the black market was traded at N214.50 compared with the N213 it was sold on June 23.