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 N1 to exchange at N364 to the dollar, stronger than N365 posted on Friday, while the Pound Sterling and the Euro, both closed at N470 and N430 respectively.

Trading at the Bureau De change (BDC) window saw the Naira closing at N362 to the dollar, while the Pound Sterling and the Euro traded at N470 and N430.

At the investors’ window, the Naira was sold at N360.39 to the dollar, while it exchanged at N305.8 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)