Naira rises as CBN injects $246m

The naira  Monday rose to $382 per dollar in the parallel market even as the Central Bank of Nigeria (CBN) injected another $246.2 million into the foreign exchange market. 

Vanguard survey of the parallel market revealed that the parallel market exchange rate which closed on Friday at N385 per dollar, dropped to N382 per dollar  due to expectation of dollar sales to Bureaux de change (BDCs) by the CBN.