Naira appreciates against Dollar at parallel market

- The Nigerian Naira appreciated against Dollar for the first time this week at parallel market

- The local currency, however, maintained the rate against Pound and Euro

- The Naira closed at N361 to a Dollar, while the Pound and the Euro traded at N483 and N420, respectively

The Nigerian Naira on Thursday, June 28, appreciated at the parallel exchange market sector after its steady appreciation was halted.

According to Legit.ng findings, it was gathered that the local currency gained one point against the greenback to close the day at N361/$1.

Also, the local currency maintained the N483 per Pound rate and N420 per Euro.

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At the Bureau De Change (BDC) segment, on Wednesday, June 27, the naira traded at N360 to the dollar, while the Pound Sterling and the Euro exchanged at N482 and N419, respectively.

Trading at the investor’ window saw the naira close at N360.91 to the dollar, while it exchanged at N305.75 at the CBN official window.

Traders said they expected the naira to remain stable as the CBN continues its interventions at the foreign exchange market.

Can 1 Naira ever become 1 US dollar again on the Forex market? - on Legit.ng TV.

Source: Legit.ng