The naira has made
some gain against the dollar after the Central Bank of Nigeria (CBN) began a
special $15,000 disbursement to Bureau de change (BDC) operators for the
Yuletide. It sold at the weekend for N366 to a dollar at the parallel market.
It was N376 dollar before the intervention, writes COLLINS NWEZE.
A Policy shift at the Central Bank of Nigeria
(CBN) has brought reprieve to the troubled naira. The currency remained fairly
resilient last week as the CBN injected $210 million into the inter-bank
foreign exchange (forex) market to provide liquidity and stability.
In the parallel market, the naira appreciated
by 1.1 per cent from N370.00/$1.00, gaining N4 to close the week at
N366.00/US$1.
Analysts believed the showing followed the
CBN’s special intervention in the Bureaux De Change (BDC) segment of the
market on Thursday.
The $15,000 weekly Yuletide special
intervention forex sales to BDC operators begins tomorrow.
No comments:
Post a Comment