Like Friday last week, naira on Monday appreciated against dollar

Just like last week Friday, the Naira on Monday in Lagos appreciated marginally against the dollar at the parallel market, gaining N2.

Experts say if the trend continues for a long time, recession will begin to ease away.

The currency exchanged at N468 to the dollar as against N470 it traded on Friday.

The Pound Sterling and the Euro closed at N565 and 510, respectively.

At the interbank market, however, the naira depreciated against the dollar, eroding the gains of Friday in that segment. It shed N4.31 to close at N308.81from N304.50 posted on Friday.

Trading at the Bureau De Change window showed that the currency closed at N385 to the dollar, while the Pound Sterling and the Euro traded at N564 and N504, respectively.