Naira ascends to N358 against dollar

The Naira on Monday acknowledged further at the parallel market in Lagos, trading at N358 to the dollar, more grounded than N359 it exchanged on Friday.

The Pound Sterling and the Euro exchanged at N472 and N411, separately.

At the Bureau De Change (BDC) fragment, the naira was sold at N360 to the dollar, while the Pound Sterling and the Euro shut at N472 and N411.

At the financial specialists’ window, the cash traded at N362.58 to the dollar, while showcase turnover remained at 225.6 million dollars.

In the interim, Alhaji Aminu Gwadabe, President, Association of Bureau De Change Operators of Nigeria (ABCON), has credited the money’s increases to the yearly “Chinese occasions and the national races”.

“The conclusion of production lines in China and the low interest for dollars has added to the increases of the naira at the parallel market,” Gwadabe said.

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