Nigeria’s Naira Appreciates Against US Dollar At Interbank Market

The naira on Friday appreciated against the dollar at the interbank market, after sustaining losses for two days.

According to the bureau de change (BDC) segment of the market, naira gained N5.28 to close at N307.79 from N313.07 posted on Thursday.

It was also disclosed that the naira exchanged at N433, N550 and N472 against the dollar, pound sterling and the euro respectively.

At the parallel market, the Nigerian currency gained one point to exchange at N435, while it closed at N560 and N475 against the pound sterling and the euro respectively.

However, traders at the market are optimistic that the naira will sustain gains at the market by next week as Travelex commences the sale of forex to BDCs.