Naira gains in all foreign currencies

by Unknown , at 05:49 , has 0 comments

The Naira on Monday appreciated on all segments of the foreign exchange market.

Naira gained three points to exchange at N460, from N463 posted on Friday, while the Pound Sterling and the Euro closed at N550 and 476, respectively.

At the Bureau De Change (BDC) window, the Naira was sold at N399 to a dollar, CBN controlled rate, while the Pound Sterling and the Euro traded at N547 and N482, respectively.

Trading on the floor of the interbank market saw the Naira closed at N306.00 to a dollar.

Traders at the market expressed delight in the interventions the CBN had made so far in boosting liquidity, adding that its sustenance would turn the economy around in the short to medium term.

The CBN has intervened at the forex market with an excess of 1.4 billion dollars in boosting liquidity at the market.