Naira gains marginally against dollar at parallel market

Dollar and Naira bills [Photo credit: NairaFX]
Dollar and Naira bills [Photo credit: NairaFX]

The Naira on Monday gained 50 Kobo to trade at N358.5 to the dollar at the parallel market in Lagos, slightly stronger than N359 traded on Friday.

The Pound Sterling and the Euro closed at N458 and N403 respectively.

The naira traded at N360 to the dollar at the Bureau De Change (BDC) segment, while the Pound Sterling and the Euro exchanged at N458 and N403, respectively.

Trading at the investors window saw the naira closing at N361.48 to the dollar as market turnover stood at 231.92 million dollars.

The News Agency of Nigeria (NAN) reports that the naira had been relatively stable at the parallel market due largely to the interventions of the CBN.

Activities at the market, however, remained slow on Monday as traders await the outcome of the Monetary Policy Committee (MPC) meeting of the CBN.

(NAN)

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