Naira Gains Strength At Parallel Market

The Naira on Thursday marginally appreciated against the dollar at the parallel market.

The Nigerian currency gained three points to exchange at N462 to a dollar, after it closed at N465 on Wednesday, while the Pound Sterling and the Euro closed at N550 and N477, respectively.

At the Bureau De Change (BDC) window, the Naira was sold at N399 to a dollar CBN controlled rate, while the Pound Sterling and the Euro closed at N550 and N500, respectively.

The Naira exchanged at N305.80 at the interbank market.

Currency traders expressed optimism that liquidity boost in the market would help to shore up the Naira rate

 

Comments

comments