Naira Appreciates to 512/1$, Banks Sell Dollar For N412
The naira strengthened against the dollar at the parallel market on Monday as deposit money banks set up foreign exchange teller points for customers in accordance with the Central Bank of Nigeria, CBN, directive.
The naira appreciated to 512 against the greenback at the parallel market from the 515/$1 at which it closed on Friday.
It, however, fell by 0.02 per cent to 411.50/$1 at the Investors and Exporters’ window, with a forex turnover of $121.08m, according to FMDQ Group.
The local currency had last week plunged to an all-time high of 525 against the dollar at the parallel market following the stoppage of the supply of foreign exchange to Bureau de Change by the CBN.
The CBN Governor, Mr Godwin Emefiele, had on Tuesday, at the end of the Monetary Policy Committee meeting, ...