Naira Appreciates Further At Parallel Market
The Nigerian Naira strengthened to N440 to a dollar at the parallel market on Tuesday, compared with the N465 to a US Dollar it was the previous day.
The Naira had closed at N477 to a dollar at the unregulated forex market last Friday.
Currency dealers attributed the development to the planned resumption of forex sales to operators of Bureau De Change, which according to them is expected to bolster dollar liquidity in the market.
The Central Bank of Nigeria is expected to resume forex sales to BDCs on Monday.
Justin Nwosu is the founder and publisher of Flavision. His core interest is in writing unbiased news about Nigeria in particular and Africa in general. He’s a strong adherent of investigative journalism, with a bent on exposing corruption, abuse of power and societal ills.
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