Naira Gains, Exchanges At N365/$1

By Nse Anthony-Uko

(Sundiata Finance) – The Naira, on Wednesday gained a point to close at $1/N365 against $1/N366 traded at the parallel market on Tuesday,

The Naira at the parallel market on Wednesday depreciated further to N468 against N467 sold on Tuesday per Pound and Euro at N412 against N410 in last two weeks.

At the official foreign exchange market, the naira remained unchanged at N305.95 the same rate it traded on Tuesday and Monday. Also, at the Investors and Exporters Foreign Exchange (I&E FX) window, the naira, opened at a depreciated rate of N365.47 compare to N364.66 opened on Tuesday, but gained to close at N363.33 against 366.31 did the previous day.

As part of its effort in ensuring liquidity and stability in the market, earlier in the week, the Central Bank of Nigeria (CBN) had boosted the foreign exchange market with the total sum of $195 million.

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