The Naira is set to appreciate further in the week as the Central Bank of Nigeria plans to inject more Foreign Exchange into the market to meet the requests of genuine customers.
The spokesman of the CBN, 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 $1 billion 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 dollars, while the lowest was N315 per dollar.
Trending
- OSUN: NANS seeks intervention from Governor Adeleke, threatens protest over fee hike, palliative
- Easter Celebration: IGP orders round-the-clock water-tight security at all public spaces
- Kogi poll: SDP witness contradicts self on alleged ‘affidavit forgery’ against Governor Ododo
- No BoT in Labour Party, spokesman dismisses takeover claims
- Nigerian writer urges preservation of literary heritage amid writer shortage
- Health professionals brainstorm in Abuja, seek drug free society
- CAF announce dates for Champions League, Confederation Cup Finals
- Tayo Ayinde withdraws suit against Gani Adams, restates commitment to peace