Nigerian Naira Drops Against Major Currencies at the Parallel Market

Naira declines by 1.10% to N367 per dollar at the parallel market. It stayed stable at the highly official pegged price at N306.95 per dollar. Today’s performances were mainly due to the losses recorded in NESTLE (-10.00%), DANGCEM (-10.00%), STERLNBANK (-9.93%), CONOIL (-9.88%) and UCAP (-9.83%) which offset the gains recorded in CHAMS (+10.00%), COURTVILLE (+10.00%), FCMB (+9.93%), UNILEVER (+9.91%) and UBA (+9.73%).