The Naira, at the Interbank market, on Thursday gained 80 kobo to the dollar, the Central Bank of Nigeria says.
The apex bank, in a statement in Lagos, said that the Naira closed at N185.50 from the N186.30 recorded on Wednesday.
The News Agency of Nigeria reports that the appreciation may be due to regular intervention at the interbank and foreign exchange markets by CBN.
One of such measures included review upward of the Net Open Positions of commercial banks’ shareholders’ fund from 0.1 per cent to 0.5 per cent.
The upward review is to increase liquidity at the interbank and foreign exchange markets.
The Naira had been on the downward trend due to the drop in oil prices at the international market.
Trending
- Transcorp Power appoints Non-Executive Directors
- Troops neutralise 192 terrorists, apprehend 341 others in one week – DHQ
- Why we sacked coach Paul Offor – Sporting Lagos FC Chair
- JUTH records first set of IVF quadruplets
- Victor Boniface: From military barracks to Bundesliga glory, by Kayode Adebiyi
- GOtv Boxing Night 31: Abimbola targets N1m cash prize
- Police arrest driver for alleged unlawful possession of pistols
- Navigating boss-subordinate relationship, by Kenechukwu Aguolu