By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-The naira on Monday opened the week appreciating 0.38 percent due to the Central Bank of Nigeria’s (CBN’s) intervention as well as dollar inflows from major international oil companies.

At the close of trading, a dollar exchanged for N198.25, similarly, the local currency gained relative to the European currencies. The Naira appreciated by 0.31 percent against the Pound and 0.49 percent against the Euro to close at N299.89/£ and N215.64/€ respectively.

However, the local currency exchanged for N225 to the greenback in the parallel market and the pounds traded around N302 to one pound.

The CBN says the naira closes at the interbank at N197.