LAGOS – The Naira on Friday closed trading on a stable terrain against the dollar at the official market.
The naira was traded at N155 against the dollar.
At the Bureau De Change (BDCs), the naira traded at N169 to the dollar at the close of the week compared with N166 it traded on Wednesday.
The naira also maintained the status quo at N250.51 it recorded against the pounds at the official market since Oct.2. [eap_ad_2] The currency, appreciated in transaction at the official market, recording N196 against the euro from N196.12 on Oct. 8.
The naira also dipped by 12 kobo against the pounds at the BDCs.
It also gained N2 against the euro at the official market, selling at N220, down from N222 sold on Oct. 8.
At the parallel market, the naira also was exchanged at N168 to the dollar since September.
Against the pound, the naira was sold at N275 and for euro it went for N225 at the close of trading.
A trader attributed the depreciation in naira against the dollar to the Central Bank of Nigeria (CBN on-going tight monetary policies.
The trader said that the CBN actions had led to scarcity of the dollar.
He also said that the appreciation in naira against the pounds was because the British had accepted the use of euro. (NAN) [eap_ad_3]
