Naira Exchange Image:

Naira Exchange                                   Image:

The naira strengthened against the dollar at the inter-bank market on Friday as the parallel market remained volatile.

The Nigerian currency traded at N314.95 against the dollar as against the N338.75 it recorded at the transaction on Thursday.

At the parallel market, however, the naira traded at N412 to the dollar as against N407 it recorded on Thursday, and N530 to Pound Sterling, N455 to the Euro, from N425 and N455, respectively on Thursday.

At the Bureau De Change (BDC) segment of the market, the naira exchanged at N407/$, N520/Pound Sterling and N450to the Euro as against N407, N525 and N450 it posted on Thursday.

Traders at the market said that the market had remained unstable as the directives and counter-directives of the Central Bank of Nigeria (CBN) on foreign exchange sale was affecting liquidity flow.

Author: Cerebral Lemon