Naira rebounds against dollar

Naira Notes
Naira Notes used to illustrate the story

The Naira on Monday appreciated at the parallel market after about two weeks of posting losses, the News Agency of Nigeria reports.

The currency gained 3 points to exchange at N490, from N493 it posted last Friday, while the Pound Sterling and the Euro traded at N600 and N506, respectively.

At the Bureau De Change, BDC, window, the Naira closed at N399, CBN rate, while the Pound Sterling and the Euro traded at N599 and N510, respectively.

Trading on the floor of the inter-bank market saw the Naira stable at N305.00.

Traders at the market linked the appreciation of the Naira to slow activities at the market.

NAN further reports that the Naira had exchanged around N490 in spite of speculations that it would hit the N500 to a dollar mark.



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  • emmanuel

    Na you sell USD at N493.00 last Friday? The alternative market was N489.5 or N490 last Friday, but sold for N491 today.
    Please do not mislead Nigerians.
    Check Nairametrics and few other medium that undertake daily clinical review of the market. Their archives are there for your judgement.
    Face area of core competence. Some are rumour mongers, others are business, financial reporters, some are political jobbers and some more undertakers.
    Where do you belong?