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Naira Appreciates Against Dollar At The Parallel Market

The Nigerian naira yesterday rallied round as it gained marginally against the dollar and other currencies.

The Naira gained 40k against the dollar at the end of Friday trading,
exchanging at N359.6 stronger than N360 traded on Thursday.
The Pound Sterling and the Euro closed at N469 and N413 respectively.

At the Bureau De Change (BDC) window, the Naira exchanged at N360
to the dollar, while the Pound Sterling and the Euro closed at N469 and N413 respectively.

Trading at the investors’ window showed that the naira gained 30k to
close at N362.50 from N362.53 traded on Wednesday, posting a turnover of 606.21 million dollars, while the Naira was sold at N306.10 at the Central Bank of Nigeria (CBN) official rate.

NAN reports that the Naira had remained stable at the foreign
exchange market, due largely to the series of interventions by the apex
bank.

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