BUSINESS

Naira exchanges at N359.4 to dollar at parallel market

Published

5 years ago

May 27, 2019

NEWSVERGE

Naira exchanges at N359.4 to dollar at parallel market

The naira on Monday traded at N359.04 to the dollar at the parallel market in Lagos.

The Pound Sterling and the Euro closed at N465 and N404, respectively.

At the investors window, the naira closed at N360.59 to the dollar, as market turnover stood at 217.08 million dollars.

Trading at the Bureau De Change (BDC) segment saw the naira closing at N360 to the dollar while the Pound Sterling and the Euro traded at N465 and N404, respectively.

It was reported that the naira has remained stable at the market hovering around N360 to the dollar across the different FX windows.

The Central Bank of Nigeria (CBN) has continued to intervene in the foreign exchange market to ensure the stability of the exchange rate.

The investors’ window alone had traded 48 billion dollars since inception.

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