Naira gains marginally against dollar at parallel market

Naira notes used to illustrate market trading
Naira notes used to illustrate the story.

The Naira on Wednesday in Lagos gained marginally against the dollar at the parallel market closing at N359.3 to the dollar.

The News Agency of Nigeria (NAN) reports that the naira shed 20 Kobo from N359.5 traded on Tuesday, while the Pound Sterling and the Euro exchanged at N463 and N408 respectively.

At the Bureau De Change (BDC) segment, the naira was sold at N360 to the dollar, while the Pound Sterling and the Euro exchanged at N463 and N408 respectively.

Trading at the investors’ window saw the naira closing at N360.75 to the dollar. Market turnover at the window stood at 278.18 million dollars.

The naira exchanged at N306.90 to the dollar at the official CBN window.

Meanwhile, the CBN said it would continue with the managed float foreign exchange policy to ensure that the naira remained stable.

The apex bank had continued its interventions at the foreign exchange market to shield the naira from the onslaught of currency speculators. (NAN)


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