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Naira Strengthens Against The Dollar, Others

The Naira on Friday appreciated by one point against the U.S Dollar at the parallel market . The development, according to Mr Abubakar Audu, a trader at the parallel market, follows the Central Bank of Nigeria (CBN)’s sale of dollar to Bureau De Change (BDC) operators. The Nigerian currency traded for N225, N345 and N248 […]

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  • The Naira on Friday appreciated by one point against the U.S Dollar at the parallel market .
  • The development, according to Mr Abubakar Audu, a trader at the parallel market, follows the Central Bank of Nigeria (CBN)’s sale of dollar to Bureau De Change (BDC) operators.
  • The Nigerian currency traded for N225, N345 and N248 on Friday afternoon against the Dollar, Pounds and Euro respectively.
  • This is as against Thursday when Naira traded for N226, N345 and N248 against the Dollar, Pounds and Euro respectively.
  • Meanwhile, the official interbank rate remained at N197 to a Dollar.

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Comments 1

  1. GistHeadlines

    Why do banks use the parallel market exchange rate instead of the interbank rate? Kindly enlighten me because I get worried whenever I get charged Using Naira MasterCard

    Reply

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