NAN reports that in spite of the $ billion backlog of Forex cleared by the CBN, the Naira has remained within N490 to a dollar
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Meanwhile, Alhaji Aminu Gwadabe, the President of the Association of Bureau De Change Operators of Nigeria, said the pressure on the Naira was disturbing and dangerous to investment, output and employment
Trading at the Bureau De Change window saw the Naira sold at N399 to a dollar, CBN controlled rate, while the Pound Sterling and the Euro exchanged at N606 and N515, respectively
The Nigerian currency exchanged at N485 to a dollar at the parallel market on Wednesday in Lagos, while the Pound Sterling and the Euro traded at N600 and N510 respectively
Trading on the floor of the Bureau De Change saw the Naira sold at N399 to
a dollar, the Central Bank of Nigeria-controlled price, while the Pound Sterling and the Euro closed at N585 and N506 respectively
At the Bureau De Change window, the naira traded at N400 to a dollar, CBN controlled rate, while the Pound Sterling and the Euro closed at N585 and N506 respectively.
At the Bureau De Change window, the naira was sold at N390, CBN controlled rate, while the Pound Sterling and the Euro closed at N562 and N500, respectively
However, naira remained stable at the parallel market, closing at N465 to a dollar, while Pound Sterling and Euro exchanged at N565 and N490, respectively
The naira gained N5 at the parallel market to exchange at N455, from N460 recorded on Thursday, while the Pound Sterling and the Euro closed at N555 and N505 respectively
Assessing the market, Alhaji Aminu Gwadabe, the President, Association of Bureau De Change Operators of Nigeria, said the naira had prospects of further appreciation in the days ahead
At the Bureau De Change window, the nation’s currency traded at N385 to a dollar, Central Bank of Nigeria controlled rate, while the Pound Sterling and the Euro closed at N564 and N509 respectively
At the Bureau De Change window, the naira was sold at N385 to a dollar, CBN controlled rate, while Pound Sterling and Euro traded at N565 and N504 respectively
Naira records marginal appreciation against dollar
Ali said the emirate is worried that the rate of naira exchange with the neighbouring countries’ CFA was threatening the cattle business in the country
Abubakar Adamu, a currency trader, said that the impact of the sale of forex to BDCs by Travelex had forced the Naira to sustain its recovery trajectory
At the official inter-bank market, the naira remained at N304.75 to a dollar
The currency gained 9.97 points to exchange at N310.24 from N320.21 it recorded on Tuesday, representing an appreciation of 3.1 per cent
However, the Naira appreciated significantly to N305/$1 at the official interbank market on Thursday
Traders at the market expressed concern that the scarcity of forex was positioning the naira on a downward trajectory
Traders at the market linked acute forex shortage of the greenback to the poor performance of the naira at the market