Naira Gains Against The Dollar
Traders in the Foreign Exchange (FOREX) Market have expressed confidence in the ability of the Central Bank of Nigeria (CBN) to stabilise the market through its series of interventions.
This was just as the Nigerian currency, on Wednesday, traded at N365 to a dollar, stronger than Tuesday’s closing rate of N366.
The pound sterling and the Euro exchanged at N468 and N412, respectively.
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While the Naira closed at N363 at the Bureau De Change (BDC) window, the pound sterling and the Euro traded at N465 and N414, respectively.
At the interbank market, the Nigerian currency closed at N305.50, while the pound sterling and the Euro traded at N395.59 and N347.38, respectively.
Whereas at the import/export window, the Naira gained as it closed at N365 to the dollar.
THE WHISTLER reports that the CBN has made relentless efforts aimed at lifting the Nigerian currency against the dollar.
