Naira dips further against dollar on Monday

The naira traded at N367 to the dollar on Monday depreciating further against the currency at the parallel market.
The Nigerian currency lost one point from N366 posted on Friday, while the Pound Sterling and the Euro closed at N476 and N432.
At the Bureau De Change (BDC) segment, the naira was sold at N363 to the dollar, while the Pound Sterling and the Euro closed at N476 and N432, respectively.
The naira, however, appreciated at the investors’ window as it closed at 362.50, stronger than N365.68, its opening rate.
The Central Bank of Nigeria (CBN) has been intervening at the foreign exchange market to stabilise the naira and to a greater extent, the apex bank has been recording success in the stabilization effort.
The naira had rallied around N363 to the dollar for about two weeks until market forces dragged it into depreciation.