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Naira: Currency consolidates gain against dollar

Naira: Currency consolidates gain against dollar

One Thousand Naira notes

The Naira gained two points to exchange at N455 to a dollar, from N457 it posted on Wednesday

The Naira on Thursday consolidated its gains against the dollar at the parallel market, the News Agency of Nigeria (NAN) reports.

The Nigerian currency gained two points to exchange at N455 to a dollar, from N457 it posted on Wednesday, while the Pound Sterling and the Euro traded at N550 and N480, respectively.

At the Bureau De Change (BDC) window, the Naira traded at N400 to a dollar, while the Pound Sterling and the Euro closed at N550 and N487, respectively.

Trading at the interbank segment of the market saw the Naira closing at N306.75 to a dollar.

ALSO READ: CBN pours $367m into forex market

Currency traders said that the boost in liquidity by the CBN had enabled the Naira to sustain its gain against the dollar at the FOREX market.

NAN reports that the CBN had sustained its intervention at the market to clear the backlog of genuine FOREX buyers.

Source: Business

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