Naira strengthens against US Dollar

Barely 24 hours after the Naira was forced to a downward trajectory by dollar scarcity, it bounced back closing at N477 to a dollar at the parallel market in Lagos.

The Pound Sterling and the Euro traded at N608 and N550, respectively.

The Naira, however, weakened marginally at the investor’s window, losing one point to close at N386 to a dollar.

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

The Nigerian currency exchanged at N381 to a dollar at the official CBN window.