Naira appreciates against dollar at parallel Market

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A trader changes dollars for naira at a currency exchange store in Lagos, Nigeria, February 12, 2015. REUTERS/Joe Penney/File Photo

Money Market

Wednesday, 16,2018

The Naira on Tuesday gained 2.3 points to appreciate against the dollar at the parallel market in Lagos, the News Agency of Nigeria (NAN) reports.

The Nigerian currency traded at N360, stronger than N362.3 posted on Monday, while the Pound Sterling and the Euro closed N497 and N428.

Trading at the Bureau De Change (BDC) segment showed that the Naira closed at N362 to the dollar, the CBN regulated rate, while the Pound Sterling and the Euro closed at N497 and N428.

At the investors’ window, the Naira was sold at N361.61, while it exchanged at N305 at the CBN window.

Across the country, the Naira exchanged as shown in the table and graph below

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