Naira Records Gain, Closes At 512/dollar On Tuesday
Oyetunji Abioye
The naira recorded slight gain on Tuesday and closed at 512 against the United States dollar on the parallel market, a day after the Central Bank of Nigeria introduced a new foreign exchange policy action.
The CBN had on Monday announced its decision to begin sale of $1m weekly to each of the country’s 21 commercial banks at a rate of 375 naira to clear a backlog of demand for retail users and try to narrow the premium between the official and black market rates.
The decision was announced hours after the naira tumbled to 520/dollar on the parallel market as
scarcity of the greenback continued to weigh on the exchange rate.
http://www.nairausd.com/2017/02/naira-records-gain-closes-at-512dollar.html
The naira recorded slight gain on Tuesday and closed at 512 against the United States dollar on the parallel market, a day after the Central Bank of Nigeria introduced a new foreign exchange policy action.
The CBN had on Monday announced its decision to begin sale of $1m weekly to each of the country’s 21 commercial banks at a rate of 375 naira to clear a backlog of demand for retail users and try to narrow the premium between the official and black market rates.
The decision was announced hours after the naira tumbled to 520/dollar on the parallel market as
scarcity of the greenback continued to weigh on the exchange rate.
http://www.nairausd.com/2017/02/naira-records-gain-closes-at-512dollar.html
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