On Tuesday, the Naira firms against the US Dollar at the parallel market. As the Central bank sustains the supply of dollars at all markets, the Naira closed at N398 to the dollar.
The naira appreciated from the N410, which was posted at the section last Friday. It was traded at N497 to the pound sterling and N430 to the Euro respectively at the same market.
The dollar was sold at N362 to the dollar, while the pound and the Euro closed at N495 and N428 respectively at The Bureau De Change (BDC). The black market saw the naira closing at N306 to the dollar.
Meanwhile, traders remained positive that the Naira might sustain its appreciation against the US Dollar as the CBN maintained its liquidity boost to all the segments of the market.
President of the Association of Bureau De Change Operators of Nigeria (ABCON) Alhaji Aminu Gwadabe, said that BDCs were doing their best to close the gap between the official and the parallel market rates.
He praised the CBN for improving the volume of foreign exchange offered to BDCs weekly and promised that its members were ready to drive down the rates if the apex bank sustained to add more fluidity to the sector.