Economy

Naira gains marginally to dollar at Investors window

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The Naira on Tuesday, gained marginally to the dollar at the investors window trading at N385.5 to a dollar, stronger than N386 traded on Monday.

Market turnover at the window fell to 45.84 million dollars, from 66.89 million dollars sold on Monday.

The naira sustained losses at the parallel market in Lagos as it closed at N483, from N482 traded on Monday.

The Pound Sterling and the Euro closed at N620 and N570, respectively.

At the Bureau De Change (BDC) subsector, the naira was sold at N386 to a dollar, while the Pound Sterling and the Euro traded at N620 and N572, respectively.

Trading at the official CBN window saw the naira closing at N379 to a dollar.

Meanwhile, the CBN had warned of using the parallel market rate to push for a further devaluation of the naira.

Speaking at the end of the Monetary Policy Committee (MPC) meeting in Abuja, the governor of Central Bank of Nigeria (CBN), Mr Godwin Emefiele, noted that the naira had been devalued already this year.

Edited By: Chioma Ugboma/Maureen Atuonwu
(NAN)

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Fabian Ekeruche

Fabian Ekeruche: NNN is a Nigerian online news portal that publishes breaking news in Nigeria, and across the world. We are honest, fair, accurate, thorough and courageous in gathering, reporting and interpreting news in the best interest of the public, because truth is the cornerstone of journalism and we strive diligently to ascertain the truth in every news report. Contact: editor @ nnn.ng. Disclaimer.

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