Naira gains two points against dollar

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The Naira on Monday appreciated against the dollar at the parallel market, Naija247news reports.

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 close 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 Aminu Gwadabe, the President, Association of Bureau De Change Operators of Nigeria said that the outlook of the Naira remained positive.

Mr. 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.

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Godwin Okafor is a financial journalist, Internet Social Entrepreneur and the Founder Naija247news Media Ltd He has over 16 experiences in journalism, which cuts across traditional and digital media. He started his journalism career in Business Day, Where he was a senior editorial graphic artist, before he left to start Naija247news, An Online Financial Newspaper in 2010. He has won series of awards and he is the chairman of Emmerich Resources Limited, the publisher of Naija247news.com and also sits on the board of Students In Business Awards, (SIBA). He currently lives in Manhattan New York

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