The naira on Friday
strengthened against the dollar at the inter-bank market as the parallel market
remained volatile.
The Nigerian currency traded at N314.95 against
the dollar in contrast with N338.75 it recorded at the transaction on Thursday.
However, at the parallel market, the naira
traded at N412 to a dollar as against N407 it recorded on Thursday, and N530 to
Pound Sterling and N455 against Euro, from N425 and N455, respectively on
Thursday.
At the Bureau De Change (BDC) segment of the
market, the naira exchanged at N407, N520 and N450 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 on foreign exchange sale was affecting liquidity flow.
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