See Current Value…Naira Appreciates Against Dollar

by BobbyT 0


The local currency has continued to strengthen against the U.S dollar as the apex bank pumps more forex into the market.
The Naira on Monday appreciated against the dollar at the parallel market reports state.
The Nigerian currency gained two points to exchange at N365 to the dollar, stronger than N367 it traded on Friday, while the pound sterling and the Euro closed at N465 and N410, respectively.
At the Bureau De Change (BDC) segment, the Naira exchanged at N363 to the dollar, while the pound sterling and the Euro traded at N465 and N412, respectively. Trading at the interbank market saw the Naira closed officially at N305.95 to the dollar, while the pound sterling and the Euro closed at N397.12 and N349.22, respectively.
At the investors’ window, the Naira closed at N359 to the dollar. Meanwhile Alhaji Aminu Gwadabe, the President, Association of Bureau De Change Operators of Nigeria (ABCON) said that the outlook of the Naira remained positive. Gwadabe noted that speculations in some quarters that the Naira would depreciate in the weeks ahead should be disregarded.
The ABCON chief noted that such speculations were the handwork of the enemies of the nation’s currency. He added that the CBN had remained committed in boosting liquidity in the foreign exchange market to take care of demands for foreign exchange.


Share This Post

Leave a Reply

Your email address will not be published.