Naira to Appreciate Against the Dollar

The naira is expected to appreciate at the black market next week after the Central Bank of Nigeria proposed an increased dollar sale to BDC operators. The CBN is planning to raise dollar sales to each of the BDCs to $40,000 from the present $20,000, which will improve liquidity and help support the local currency….”
Tolu
April 15, 2017 10:16 am

The naira is expected to appreciate at the black market next week after the Central Bank of Nigeria proposed an increased dollar sale to BDC operators.

The CBN is planning to raise dollar sales to each of the BDCs to $40,000 from the present $20,000, which will improve liquidity and help support the local currency.

The naira was quoted at 410 to the dollar on the black market on Friday, compared with 398 the previous Friday.

At the official window, it closed at N306.10 to the dollar on Thursday against N306.20 per dollar last week.

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