How Naira Fared Against 3 Major Currencies At Parallel Market [Jan. 9]

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Naira Gains 'Overwhelmingly' Against Dollar [Nov. 8]

The Naira on Monday appreciated against the Dollar at the parallel market after about two weeks of losses.

The local 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.

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

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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.

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

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Alhaji Aminu Gwadabe, the President, Association of Bureau De Change Operators of Nigeria (ABCON), while decrying the spike in the exchange rate, had commended the CBN for keeping it below N500 to a dollar.

Datboyjerry

Datboyjerry

I am but your herald boy in the art of the pen.. An eccentric Environmental Biologist smouldered in the glorious epiphany of online journalism.If you ever find my article unduly insipid, sue me and i’ll refund you...

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