Naira Sells at N358.5 to Dollar at Parallel Market

The Naira on Wednesday appreciated marginally against the dollar at the parallel market in Lagos, exchanging at N358.50 to the dollar.

Newsmen report that the Nigerian currency was 10 kobo stronger than N358.60 to the dollar traded on Tuesday, while the Pound Sterling and the Euro closed at N478 and N417.5, respectively.

At the Bureau De Change (BDC) window, the Naira closed at N360 to the dollar, while the Pound Sterling and the Euro closed at N478 and N417.5, respectively.

Trading at the investors’ window saw the Naira close at N361.87 with a daily turnover of 168.74 million dollars, while the naira closed at N305.75 at the CBN window. Traders expressed optimism that the naira might appreciate further at the market as the CBN continues to boost liquidity.
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July 11, 2018