Naira Gains 40k Against Dollar at Parallel Market

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  • Naira Gains 40k Against Dollar at Parallel Market

The Naira gained 40k against the dollar at the end of Friday trading, exchanging at N359.6 stronger than N360 traded on Thursday.

The Pound Sterling and the Euro closed at N469 and N413 respectively.

At the Bureau De Change window, the Naira exchanged at N360 to the dollar, while the Pound Sterling and the Euro closed at N469 and N413 respectively.

Trading at the investors’ window showed that the naira gained 30k to close at N362.50 from N362.53 traded on Wednesday, posting a turnover of 606.21 million dollars, while the Naira was sold at N306.10 at the Central Bank of Nigeria official rate.

NAN reports that the Naira had remained stable at the foreign exchange market, due largely to the series of interventions by the apex bank.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

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