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The value of the naira rose against the US dollar in the official market but fell in parallel foreign exchange marketsThe naira also appreciated at GTBank’s foreign exchange window, but fell in the official market against the British poundMarket analysts expect the naira to stay range-bound, as forex intervention slows and the interbank market turnover drops
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The Nigerian currency, the naira, recorded a mixed movement against the United States dollar in the official and unofficial foreign exchange markets on Thursday, July 3.
In the black market, Legit.ng spoke to several Bureau de Change (BDC) operators, who confirmed that the naira depreciated against the dollar despite higher exchange rates for the euro and the British pound sterling.
The naira closed stronger at N1,370.15/$1 in the official market Photo: BloombergSource: Getty
