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Thursday, 13 September 2018

Naira strengthens even more against the dollar in the investor window


Naira on Thursday appreciated even more against the dollar in the investors' window, trading at N362.78, stronger than N363.10 published on Wednesday.

It was exchanged at N306.25 per dollar in the official window of the Central Bank of Nigeria (CBN).



The Nigerian currency was sold at N359 per dollar in the parallel market, maintaining the same rate for three consecutive days.

The pound sterling and the euro closed at N480 and N413, respectively.

Trading in the Bureau De Change (BDC) segment saw the naira close at N360 per dollar, while the pound sterling and the euro closed at N480 and N413, respectively.

Meanwhile, some analysts believe that the naira will remain stable in the coming weeks.

For example, Professor Sheriffdeen Tella, senior economist at Onabanjo University, Ago-Iwoye, Ogun, said that many politicians who had accumulated dollars would turn them into naira to finance their campaigns, therefore, the market would be flooded with liquidity.

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