Friday, March 24, 2017

Naira Appreciates Further, Now At 390 Per Dollar

Nigerian naira on Friday ended the week trading bullish as the currency trades 390 per US dollar at the parallel market.

The currency also appreciated further against the Pound sterling and Euro at the parallel market to close at 490, 430 respectively.

At the official market, the currency stable at 307 to the dollar.

The Central Bank of Nigeria (CBN) on Friday offered the sum of $100 million to meet the requests of wholesale customers.

Acting Director of Corporate Communications at the CBN, Isaac Okorafor, disclosed that $91 million was taken.

He disclosed that while the highest and marginal bid rates were N330/$1 and N320/$1, respectively, Okorafor said no intervention was made by the Bank to meet requests for invisibles on Thursday.

CBN Governor, Godwin Emefiele, at the post-Monetary Policy Committee briefing had assured that the Bank will sustain its forex intervention in the interbank market.

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