The naira on
Wednesday appreciated against the dollar at the parallel market, exchanging at
N363 to the dollar from the N364 posted on Tuesday.
The pound
sterling and the Euro closed at N477 and N428 to the naira
, respectively.
At the
Bureau De Change window, the naira was traded at N363 to the dollar, while the
pound sterling and the Euro closed at N477 and N428, respectively.
Trading at
the investors window saw the naira closing at N367.50 to the dollar.
Traders
expressed optimism that the interventions by the CBN at the market were capable
of closing the gap further between the rates at the parallel market and other
segments.
NAN reports
that not all the BDCs in the South West bought foreign exchange from the weekly
auction on Tuesday.
A credible
BDC source told NAN on condition of anonymity that since the near convergence
of rates many BDCs were trading at a loss.
(NAN)
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