Naira gains against USD, closes at ₦358 at parallel market

A trader changes dollars with naira at a currency exchange store in Lagos

The Naira on Friday gained ₦1 to close at ₦358 to the dollar at the parallel market in Lagos.

The News Agency of Nigeria (NAN) reports that the naira traded stronger on the eve of elections than Thursday when it closed at ₦359 to a dollar.

The Pound Sterling was sold at ₦470 and the Euro at ₦408.

At the Bureau De Change (BDC) segment, the naira traded at ₦360 to the dollar, while the Pound Sterling and the Euro closed at ₦470 and ₦408.

Trading at the investors window saw the naira closing at ₦361.49 to the dollar as market turnover stood at 292.34 million dollars.

Traders said that the demand for the dollar was low as the market was already in an election mood.