Naira appreciates against Dollar at parallel market

The Nigerian Naira, on Monday, April 30, finally took a jump against the United States of America Dollar at the parallel segment of the Nigerian Foreign Exchange Market.

The local currency, had for some weeks remained unchanged against the greenback at the black market staying at the rate of N363.

However, as the new week kicked off at the market, the Naira gained momentum from the rate of N363 to N362.
Against the British Pound Sterling, the Naira exchanged at the rate of N505 and closed at the rate of against the European Single Currency, Euro.

In other developments, the Association of Bureaux De Change Operators of Nigeria, ABCON, will on Wednesday, May 2, 2018, commission www.naijabdcs.com, a live rate engine platform to promote transparency in the foreign exchange market.

ABCON President, Alhaji Aminu Gwadabe, revealed that the group had secured the Central Bank of Nigeria’s (CBN’s) no- objection approval on the engine room.