Naira Gains As CBN Supplies BDCs Dollars

The Naira on Monday gained N5 to close at N435 to the dollar at the parallel market in Lagos. The Pound Sterling and the Euro closed at N575 and N515, respectively.

At the Bureau De Change window, the Naira traded at N386 to the dollar, while the Pound Sterling and the Euro closed at N575 and N515, respectively.

Trading at the investor’s window saw the Naira exchanging at N386 as investors transacted a total of 45.22 million dollars.

The Naira, however, closed at 379 to the dollar at the official CBN window.

Alhaji Aminu Gwadabe, the President, Association of Bureau De Change Operators of Nigeria (ABCON) told the News Agency of Nigeria (NAN) that the CBN disbursed a total of 50 million dollars to BDCs in Abuja, Lagos, Awka and Kano.

Gwadabe noted that the CBN’s interventions were already yielding positive results in the market.

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