THE naira appreciated further on the parallel market on Friday, closing the week at N450.00/US$1.00 stronger than the N453 to a dollar it closed the previous day. But the buy rate of the greenback appreciated to $445 to the dollar.
Meanwhile, the local currency is set to appreciate further in the week as the Central Bank of Nigeria (CBN) plans to inject more Foreign Exchange (Forex) into the market to meet the requests of genuine customers.
The spokesman of CBN, Mr Isaac Okorafor, gave the assurance in a statement on Sunday in Lagos.
The apex bank had so far kept to its promise of continuing to supply enough forex to guarantee liquidity in the market.
The statement said the bank was committed to ensuring that authorised dealers got sufficient supply to meet the demands of authentic customers of banks.
It disclosed that the bank had since February offered over one billion dollars to the interbank market.
The bank expressed optimism that stability had been restored to the forex market.
According to the statement, individuals can easily access forex to address personal and business allowances.
A summary of the CBN intervention in the interbank market over the past two months, shows the highest bid rate was N360 per dollar, while the lowest was N315 per dollar.
...Rare personal items, regal photos, archived documents for public exhibition A decade may have passed,…
By: Karen Ibrahim Nigeria has not made much progress in terms of national unity in…
RECENTLY, the governor of Benue State, Hyacinth Alia, attributed the recent wave of violence in…
As the airlift of Nigerian intending pilgrims to this year's Hajj in the Kingdom of…
"My advice is that any commander of the security forces operating in Delta who does…
Two Civil Society Organizations—Civil Rights Africa and the League of Democracy Defenders—have issued a strong…
This website uses cookies.