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The Naira on Wednesday appreciated by 0.08% to 304.75 to the dollar at the interbank market, as the Central Bank of Nigeria raised the exchange rate for Bureau de Change operators to 385 naira per dollar.
The currency depreciated 2 points to exchange at N455 to the dollar at the parallel market, from N453 it traded on Tuesday.
The Pound Sterling remained steady at N545, while Euro depreciated to N495 at the parallel market segment, according to data compiled by the AbokiFx website.
Currency trader, said that the impact of the sale of forex to BDCs by Travelex had forced the Naira to sustain its recovery trajectory.
Meanwhile, the Central Bank of Nigeria, CBN, has ordered commercial banks in the country to stop giving out loans in foreign currencies to customers who don't have earnings in foreign currencies
The currency depreciated 2 points to exchange at N455 to the dollar at the parallel market, from N453 it traded on Tuesday.
The Pound Sterling remained steady at N545, while Euro depreciated to N495 at the parallel market segment, according to data compiled by the AbokiFx website.
Currency trader, said that the impact of the sale of forex to BDCs by Travelex had forced the Naira to sustain its recovery trajectory.
Meanwhile, the Central Bank of Nigeria, CBN, has ordered commercial banks in the country to stop giving out loans in foreign currencies to customers who don't have earnings in foreign currencies