Following the Ramadan break, the Nigerian Naira has rallied round to record improvement at the parallel market.
Naira
The Naira on Tuesday converged at N360 to the dollar across the major foreign exchange market, the News Agency of Nigeria(NAN) reports.
At the parallel market, the naira traded at N360 to a dollar, stronger than the N360.6 exchanged before the Sallah break, while the Pound Sterling and the Euro traded at N489 and N423, respectively.
Trading at the Bureau De Change (BDC) segment saw the naira exchanged at N360 to a dollar, while the Pound Sterling and the Euro closed at N489 and N423, respectively.
The naira, however, traded at N360.25 to a dollar at the investors’ window, with a total volume of N168.13 million.
The Nigerian currency also closed at N305.85 at the CBN window.
Traders said the trading was low due to resumption from the Sallah break.
The naira had remained stable across the foreign exchange market due to the intervention of the CBN.