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Naira appreciates against dollar at parallel FX market

Naira appreciates against dollar at parallel FX market

The Nigerian currency, the naira appreciated against the American dollar at the parallel unofficial foreign exchange window.

At the black market, the Nigerian currency gained N5 against the American greenback, trading at N1,495/$1, as against the previous rate of N1,500/$1.

The local currency gained N10 against the British Pound to trade at N2,020/£1 as against the previous day’s rate of N2,030/£1.

Read also: Equities market continues to soar as investors gain N745bn

The naira closed flat against the Canadian dollar to trade at N1,130/CA$1, the same as the previous day’s rate of N1,130/CA$1.

The naira closed flat against the Euro to trade at ₦1,725/€1, the same as the previous day’s rate of ₦1,725/€1.

At the official window, the Central Bank of Nigeria (CBN) was yet to release the official rates as of 8:41 pm when this report was filed.

By: Babajide Okeowo 

Source: RipplesNigeria | Read the Full Story…

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Equities market continues to soar as investors gain N745bn

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