Good News as Naira Appreciated in Parallel Market Against Dollar

The Naira appreciated marginally against the dollar at the parallel market by gaining 2 Naira on M
onday.

The currency exchanged at 468 Naira to the dollar as against 470 Naira it traded on Friday. The Pound Sterling closed at 565 Naira and the Euro at 510.

At the interbank market, however, the naira depreciated against the dollar by shedding 4 Naira, 31kobo to close at 308 Naira, 81 kobo from 304 Naira, 50 kobo posted on Friday. Also, Trading at the Bureau De Change window, showed that the currency closed at 385 Naira to the dollar, while the Pound Sterling traded at 564 Naira and the Euro traded at 504 Naira.

ABDC operator, Abubakar Adamu, however, expressed optimism that the naira would appreciate further in the course of the week.