– Naira finishes the month of July strong as it closes the day at N365/$1
– The local currency also stayed firm against the Pound to close at N474/£1
– BDC chief Gwadabe calls for calm among its members following the relative stability of the Naira
The Nigerian Naira on Monday, July 31, retained its strength against the Dollar at the parallel market as it closed the day at N365/$1, the same rate it finished at the end of last week.
The local currency also stayed firm against Pound Sterling as it traded at N474 as it was previously.
However, the Naira gained two points against the Euro to close the day at N422, from the previous rate of N424.
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On the other hand, foreign exchange rate at the official market remained pegged at N305.65/$1.
Today’s rate. Photo: ZENITHBLOG.com
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Meanwhile, Alhaji Aminu Gwadabe, President, Association of Bureau De Change Operators of Nigeria (ABCON), has called for calm among its members on the present reality.
According to Gwadabe, the relative stability in the foreign exchange market is worthy of celebration, in spite of dwindling profit in the sector.
The Naira has remained relatively stable, hovering between N360 and N365 at the parallel market.
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