The naira firmed against the dollar at the parallel market
on Tuesday, closing at N398 to the dollar.
The News Agency of Nigeria, NAN, reports that the naira
appreciated from the N410 it posted at the segment on Friday
It was traded at N497 and N430 to the pound sterling and
Euro, respectively, at the segment.
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, 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.
NAN
