Naira gains marginally against dollar at parallel market

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The naira appreciated marginally against the dollar at the parallel market on Thursday, exchanging at N359 to the dollar.

The naira was traded at the segment  at N461 and N407 against the Pound Sterling and the Euro, respectively.

At the Bureau De Change (BDC) window, the naira was sold at N360 to the dollar, while it was traded against the Pound Sterling and the Euro traded at N461 and N407, respectively.

Transactions  at the investors’ window saw the naira closing at N360.76 as market turnover dropped from 128.59 million dollars to 107.63 million dollars since Wednesday.

The naira closed at N307 to the dollar at the official CBN window.

The News Agency of Nigeria reports that the stability of the naira had been fuelled by the interventions of the Central Bank of Nigeria (CBN) at the foreign exchange market.

The Apex bank had injected about N42.3 billion dollars to the foreign exchange market since last year.