Naira: Currency strengthens against dollar at interbank market

The Naira on Friday appreciated against the dollar at the interbank market, after sustaining losses for two days, the News Agency of Nigeria (NAN) reports. The Nigerian currency gained N5.28 to close at N307.79 from N313.07 posted on Thursday. Trading at the Bureau De Change (BDC) segment of the market showed that the Naira exchanged at N433, N550 and N472 against the dollar, Pound Sterling and the Euro respectively. At the parallel market, the Nigerian currency gained one point to exchange at N435, while it closed at N560 and N475 against the Pound Sterling and the Euro respectively. However, traders at the market are optimistic that the Naira will sustain gains at the market by next week as Travelex commences the sale of forex to BDCs.