SAN FRANCISCO, June 21, (THEWILL) – The Naira on Tuesday appreciated further against the dollar at the parallel market gaining N9 at the close of trading to exchange at N335, from N344 it traded on Monday.
The Naira also appreciated against the Pound Sterling and the Euro as it traded at N450 and N356 respectively.
THEWILL can also report that the Naira also exchanged at N281.85 at the official interbank rate at the end of trading on Tuesday. It traded between the range of N285 – N286.50 to $1.
Traders at the market said that the consolidated appreciation of the Naira at the market reflected the impact of the flexible exchange rate.
They added that the new foreign exchange policy had the potential of frustrating the activities of currency hoarders and speculators.
