The Naira on Monday appreciated against the dollar at the parallel market. It 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, the Naira exchanged at N363 to the dollar, while the pound sterling and the Euro traded at N465 and N412, respectively. While at the interbank market the Naira closed officially at N305.95 to the dollar, the pound sterling and the Euro closing at N397.12 and N349.22, respectively.
Elsewhere at the investors’ window, the Naira closed at N359 to the dollar.
To Aminu Gwadabe, president, Association of Bureau De Change Operators of Nigeria, ABCON, this is a good development as he said the outlook of the Naira remained positive. He explained that speculations in some quarters that the Naira would depreciate in the weeks ahead should be disregarded.
Gwadabe observed that such speculations were the handwork of the enemies of the nation’s currency, and that the CBN remained committed to boosting liquidity in the foreign exchange market to take care of demands for foreign exchange.