Naira continues recovery against Dollar at parallel market, appreciates to N360/$1

macfranc007 June 30, 2018 Nigeria News today & Breaking news ▷ Read Naija news 24/7 Oluwatobi Bolashodun

- The Naira has gained strength against the major foreign currency at the parallel market

- The Nigerian currency trades at N360, N480 and N421 against the Dollar, Pound Sterling and Euro respectively

- Currency traders expressed optimism that the naira would remain stable in the weeks ahead

The Naira on Friday, June 29, remained stable at the parallel market in Lagos, exchanging at N360 to the dollar, the News Agency of Nigeria(NAN) reports.

The Nigerian currency had traded at same rate for the past two days, while the Pound Sterling and the Euro closed at N480 and N421 respectively.

At the Bureau De Change (BDC) window, the Naira also closed at N360 to the dollar, while the Pound Sterling and the Euro traded at N480 and N421, respectively.

Trading at the investors’ window saw the naira close at N361.32, while it exchanged at N305.75 to the dollar at the Central Bank of Nigeria (CBN) official window.

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Naira remain stable at N360 to Dollar

Traders expressed optimism that the naira would remain stable in the weeks ahead as the CBN continues its interventions at the foreign exchange market.

NAIJ.com previously reported that the Nigerian Naira on Thursday, June 28, appreciated at the parallel exchange market sector after its steady appreciation was halted.

According to NAIJ.com 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.

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