Naira appreciates against major currencies

The naira has appreciated against the major currencies at the official and parallel markets in Lagos.

At the official market, the naira opened at N155.15 to the dollar, compared with N155.23 or a gain of 80 kobo it traded on Friday, June 6, 2014.

The currency also appreciated against the dollar at the bureau de change by 50 kobo to close at N167, as against N167.50 recorded on Friday, June 6.

It remained stable at the parallel market, closing at N167 — the same price at which it sold last week.

The naira also traded at N260.02 to the pounds on Monday at the official market, a gain of 19 kobo, as against N260.21 on June 6.

It remained stable against the pounds at the bureau de change and the parallel markets during the first trading day of the new week.

The naira traded at N283 to the pounds at the bureau de change, and N285 at the parallel market.

At the official market, the naira against the Euro appreciated by 88 kobo to N210.63, compared with N211.51 it sold on June 6.

The naira also appreciated at the bureau de change against the Euro, selling at N235 compared with N237.43 at which it sold at the close of business last week.

The currency was also relatively stable at the parallel market on Monday, as it traded at N235 to the Euro.