Naira strengthens against dollar at interbank market
The Nigerian currency gained 50k to exchange at N304.50, from N305 posted on Thursday.
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The Nigerian currency gained 50k to exchange at N304.50, from N305 posted on Thursday.
The naira was sold at N385 to dollar at the BDC.
The naira on Thursday continued to hedge against the dollar in all the major segments of the forex market.
At the official inter-bank market, the Naira closed at N304.75 from N306.71 posted on Friday.
The currency gained 9.97 points to exchange at N310.24 from N320.21 it recorded on Tuesday.
The naira also closed at N445, N559 and N484 to the dollar, Pound Sterling and the Euro at the parallel ...
At the parallel market, the Nigerian currency gained one point to exchange at N435.
At the parallel market, Naira lost eight points to close at N436 against the dollar.
At the Bureau De Change segment of the market, the naira exchanged at N407, N520 and N450 against N407, N525 ...
Dollar exchanged for about N400.
Traders at the market are hope the naira will rebound in the coming weeks.
Traders at the market said that the demand for the greenback was still on the high side.
The Nigerian currency exchanged at N380 to the dollar, from the N378 it traded on Friday.
The naira also depreciated further at the official interbank rate as it exchanged at N330.12 to the dollar.
The CBN had on July 22 issued circular mandating DMBs to sell foreign currency proceeds from international money transfers to ...
The flexible forex policy is yet to be felt as the naira continues to depreciate in virtually all segments of ...
At the official interbank window, the Naira closed at N283.42 to a dollar.
Traders at the market say activities at the market were slow because of the prolonged public holiday the previous week.
"The regulatory authority has written warning letters to such erring airlines."
CBN is optimistic Naira would ultimately settle at the target level of N250 to the dollar.
CBN clears $4.02 billion demand backlog at ₦280 to the dollar.
The new window will have about 10 primary forex traders, to be appointed by the bank.
Mr. Buhari says the devaluation of naira would not augur well for Nigeria’s economy.
Naira trades N450 and N360 for pound sterling and the Euro respectively at the day’s transaction.
Another market fire occurred in Kano.
