Naira continues gain against dollar, sells at N450

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The Naira on Monday continued to strengthen against the dollar and other major currencies.

The Nigerian currency gained N10 to exchange at N450 to a dollar at the parallel market, while the Pound Sterling and the Euro exchanged at N560 and N470.

At the Bureau De Change window, the Naira was sold at N399 to a dollar, CBN controlled rate, while the Pound Sterling and the Euro closed at N610 and N500.

The Naira traded at N305.50 to a dollar at the inter-bank market.

Traders at the market expressed confidence in the new FOREX policy and its ability to restore the Naira to its lost glory.

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Meanwhile, some traders are still in shock at the performance of the Naira, as many believed that the Nigerian currency would sink further to N1,000 to a dollar.

Some of them still live in the denial of the present reality for their selfish gains. (NAN)

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