The Naira on Friday continued to maintain an average value of N306 to the dollar, few days after the Central Bank of Nigeria retained its Monetary Policy Ratio.
The News Agency of Nigeria reports that the apex bank’s Monetary Policy Committee retained its MPR at 11 per cent and the Cash Reserve Ratio at 20 per cent.
The naira lost a point from the N305 to a dollar it had previously exchanged, a depreciation of 0.3 per cent.
It, however, closed at N197 to the dollar at the official Central Bank of Nigeria rate.
Traders at the market cited shortage of the greenback and anxiety over calls for the devaluation of the nation’s currency.
They argued that the devaluation wind was still affecting sales at the market.
NAN.
Trending
- Court dismisses money laundering charge against ex-AGF
- Six injured as truck overturns in Lagos + Photo
- Alleged N80.2b fraud: IG withdraws policemen attached to Yahaya Bello
- Court okays Nigerian’s plea to amend $150m suit against Google, GoDaddy.Com
- French-American player backs Rivers Hoopers to spring surprises at 2024 Basketball Africa League
- NNPCL, First E&P achieve 20,000bpd production at OML 85
- Nigeria: The changing governance story, by Temitope Ajayi
- Access Holdings’ shareholders back capital raising, hail Aig-Imoukhuede’s return