Naira drops to N390 against dollar at parallel market

The naira has suffered its first loss this week against the foreign currencies at parallel market.

However, currency traders say that in spite of the loss of the naira, the nation's currency had remained stable

Meanwhile, trading at the Nigeria interbank market, saw the Naira closed at N365.80 to the dollar.

The Nigerian naira on Tuesday, May 2nd, depreciated marginally against the dollar at the parallel market, the News Agency of Nigeria (NAN) reports.

According to the report., the Nigerian currency lost one point to exchange at N391 to the dollar, weaker than previous N390 posted on friday April 28th

The local currency also dropped eight points against the pound sterling to close at N497 from the previous rate of N490, while it dropped five points against the eurito close at N420 from the previous rate N415.