The Nigerian naira is
currently trading at 494 to a dollar, from N268 to a single dollar on December 25, 2015.
Over the year, the naira has a seen drastic
depreciation in value, moving from 197 per dollar to 282 at the launch of
the current “floating” foreign exchange policy in June, 2016.
The naira was trading at 305 per dollar at the
official interbank market as of Friday December 23, 2016, while the euro and
the British pound exchanged for 330 and 388 respectively.
Speaking to TheCable on Sunday, a dealer in Lagos
said the naira appreciated on Friday after the CBN sold dollars to commercial
banks via a special auction.
He added that the pressure around the festivities
pushed the naira to 498 against the dollar on Sunday.
“On Friday morning, we sold for N495 to the
dollar, but when the CBN sold to banks, the naira appreciated to 485 per
dollar,” Isiaka Ahmed, a BDC operator, told TheCable on Sunday.
-TheCable
No comments:
Post a Comment