The Naira on Friday appreciated by one point against the U.S Dollar at the parallel market .
The development, according to Mr Abubakar Audu, a trader at the parallel market, follows the Central Bank of Nigeria (CBN)’s sale of dollar to Bureau De Change (BDC) operators.
The Nigerian currency traded for N225, N345 and N248 on Friday afternoon against the Dollar, Pounds and Euro respectively.
This is as against Thursday when Naira traded for N226, N345 and N248 against the Dollar, Pounds and Euro respectively.
Meanwhile, the official interbank rate remained at N197 to a Dollar. Click to signup for FREE news updates, latest information and hottest gists everyday
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Hmmm
ReplyDeleteI reserve my comments till $1=N1
Why reserve them? Are you afraid to say the truth... that nothing has changed yet in the value of the naira since May 29?
Delete@esesien ita, why will things change over night,considering the way and manner your bros stole all the hard currency before, during and after the election. U need more than a magician. Pls let face reality
Deleteit is GEJ that weakens our currency. perhaps that is the comment he has reserved.
ReplyDeleteWhat is the benefit of the bank rate that is not readily available to people....Bam Bam
ReplyDeleteNigeria change from 198 to 225 and u people hv mind to tell us that naira is apporiating .hmmmm
ReplyDeleteThe exchange rate will improve in favour of Naira if the Nigerian economy improves in real terms.
ReplyDeleteExamples of real term improvements: increase in oil price, reduced corruption in all areas of the economy, improved agricultural production, support new business start-up and improved tourism.