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Naira Rises to ₦358 Against Dollar

The Naira on Monday appreciated further at the parallel market in Lagos, exchanging at ₦358 to the dollar, stronger than ₦359 it traded on Friday.

Naira rises to ₦358
Naira rises to 358
The Pound Sterling and the Euro traded at ₦472 and ₦411, respectively.

At the Bureau De Change (BDC) segment, the Naira was sold at ₦360 to the dollar, while the Pound Sterling and the Euro closed at ₦472 and ₦411.

At the investors’ window, the currency exchanged at ₦362.58 to the dollar, while market turnover stood at 225.6 million dollars.

Meanwhile, Alhaji Aminu Gwadabe, President, Association of Bureau De Change Operators of Nigeria (ABCON), has attributed the currency’s gains to the annual “Chinese holidays and the national elections’’.

”The closure of factories in China and the low demand for dollars has contributed to the gains of the naira at the parallel market,” Gwadabe said.
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