Naira gains marginally against the dollar


The Naira has recorded a marginal gain against the dollar at the Parallel market in Lagos, exchanging at N359.5 to the dollar, according to reports.

The Nigerian currency had traded flat against the dollar for 48 hours at N360 to the dollar across major market segments.

The Pound Sterling and the Euro closed at N485 and N424, respectively.
At the Bureau De Change (BDC) window, the naira closed at N360 to the dollar, while the Pound Sterling and the Euro exchanged at N483 and N424, respectively.

Trading at the investors’ window saw the naira close at N361 to the dollar, with a trading turnover of N312.05 million.

The naira closed at N305.8 to the dollar at the CBN window.

Currency traders said they expected the naira to strengthen further in the coming weeks as the market remained liquid to cater for the needs of genuine foreign exchange seekers.

Ime N