The Naira firmed against the
US dollar at the parallel market on Tuesday, closing at N398 to the dollar, as
the Central Bank of Nigeria sustains the supply of dollars at all markets.
The naira appreciated from the
N410 it posted at the segment on Friday. It was traded at N497 to the pound
sterling and N430 to the Euro, respectively, at the same market.
At the Bureau De Change (BDC),
the dollar was sold at N362 to the dollar, while the
At the Bureau De Change (BDC),
the dollar was sold at N362 to the dollar, while the pound and the Euro closed
at N495 and N428, respectively.
Trading at the interbank saw
the naira closing at N306 to the dollar.
Traders still expressed
optimism that the naira might sustain its appreciation against the dollar as
the CBN maintained its liquidity boost to all the segments of the market.
Meanwhile, Alhaji Aminu
Gwadabe, the President, Association of Bureau De Change Operators of Nigeria
(ABCON), said that BDCs were working hard to close the gap between the official
and the parallel market rates.
He commended the CBN for
increasing the volume of foreign exchange offered to BDCs weekly and promised
that its members were ready to drive down the rates if the apex bank continued
to inject more liquidity to the sector.
Comments
Post a Comment