Naira strengthens against dollar

Barely 24 hours after the naira was forced to a downward trajectory by dollar scarcity, it bounced back, closing at ₦477 to a dollar at the parallel market in Lagos.

According to reports, the Pound Sterling and the Euro traded at ₦608 and ₦550, respectively.

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While Daily Times Nigeria gathered that the naira, however, weakened marginally at the investor’s window, losing one point to close at ₦386 to a dollar.

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The volume of trade at the window shrunk by $1.83 million when compared to Tuesday, to close at $18.44 million.

The Nigerian currency exchanged at ₦381 to a dollar at the official CBN window.

(NAN)