22 March, 2017

Naira Continues To Appreciate Against Dollar

The Nigeria Currency has continued to appreciate  and gain weight against the dollar at the parallel market, according to  report.

Naira traded 420 on Tuesday afternoon at (buying rate) and N430 (selling rate), while the Pound Sterling and the Euro closed at N530 and N450 respectively.

Trading on the floor of the Bureau De Change (BDC) showed that the Naira closed at N400 to a dollar, while the Pound Sterling and the Euro traded at N545 and N480 respectively.

However Naira remained stable at the interbank market, exchanging at N307.50 to a dollar. Traders at the market said that they were happy with the performance of the Naira at the market, adding that it would lead to the fall in the prices of goods and services nationwide.

Meanwhile, Mr Emefiele Godwin, Governor of the Central Bank of Nigeria (CBN), said that the bank was optimistic to see the further convergence of the official and parallel market rates during at interview in Abuja.

No comments:

Post a Comment