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Naira Gains N5.28 Against Dollar At Interbank Market

naira notes

By Modupe Gbadeyanka

On Friday, September 23, 2016, the Naira appreciated against the dollar at the interbank market, closing at N307.79.

This was against the N313.07 per dollar it closed on Thursday at the same market.

This showed that the country’s currency gained N5.28 against the dollar.

For two days, the Naira recorded losses, which put pressure on the currency.

At the Bureau De Change (BDC) segment of the market, the Naira exchanged at N433 to a dollar, while it traded for N550 and N472 against the Pound Sterling and the Euro respectively.

Also at the parallel market, the Naira was changed at the rate of N435 to a dollar, while it went for N560 and N475 against the Pound Sterling and the Euro respectively.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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