Nigeria’s Naira appreciates against the US Dollar

The Naira on Tuesday appreciated against the dollar at the parallel market, the News Agency of Nigeria, NAN, reports.

The Nigerian currency gained ₦1 to exchange at ₦364 to the dollar, stronger than ₦365 posted on Friday, while the Pound Sterling and the Euro, both closed at ₦470 and ₦430 respectively.

Trading at the Bureau De change (BDC) window saw the Naira closing at ₦362 to the dollar, while the Pound Sterling and the Euro traded at ₦470 and ₦430.

At the investors’ window, the Naira was sold at ₦360.39 to the dollar, while it exchanged at ₦305.8 to the dollar at the interbank market.

It is yet to be seen what the impact will be when trade fully resumes as traders said that activities at the market was yet to resume fully as most traders were yet to come back from the Sallah break.

(NAN)