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The Naira on Monday appreciated further at the
parallel market in Lagos, exchanging at N358 to
the dollar, stronger than N359 it traded on Friday.
The Pound Sterling and the Euro traded at N472
and N411, respectively.
At the Bureau De Change (BDC) segment, the
naira was sold at N360 to the dollar, while the
Pound Sterling and the Euro closed at N472 and
N411.
At the investors’ window, the currency exchanged
at N362.58 to the dollar, while market turnover
stood at 225.6 million dollars.
Meanwhile, Alhaji Aminu Gwadabe, President,
Association of Bureau De Change Operators of
Nigeria (ABCON), has attributed the currency’s
gains to the annual “Chinese holidays and the
national elections’’.
”The closure of factories in China and the low
demand for dollars has contributed to the gains of
the naira at the parallel market,” Gwadabe said.
source: thenationonlineng.net/naira-appreciates-parallel-market/

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