By InvestAdvocate

Lagos (INVESTADVOCATE)-The Central Bank of Nigeria (CBN) on Monday sold dollars to a few banks as the naira appreciated 0.8 percent to trade at N305.50 to a dollar at the interbank FX market following four (4) hours of inactive trading, Cordros daily currency market update reported

 According to Cordros, as at the time of reporting, the naira in the interbank market had appreciated compared to all the three (3) currencies it tracked. Cordros reported the naira gained 2.47 percent to the greenback, 4.15 percent to the pounds sterling and 4.47 percent to the euro to trade at N308.73, N431.62 and N372.73 respectively.

Similarly, in the parallel market, the Nigeria’s domestic currency strengthened 0.25 percent to N396.00, while the British pounds and euro traded flat to exchange at N510.00 and N442.00 respectively.