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Nigerian naira on Monday depreciated against the United Stated dollar to 390 per dollar,
despite Central bank of Nigeria CBN, intervention to close forex margin between official and parallel market.
The currency also depreciated against the Pound sterling and Euro at the street market to 495 and 415 respectively.
This is coming as the Central Bank of Nigeria, CBN, on Friday opened a special foreign exchange window for investors and exporters.
CBN’s Director in charge of Financial Markets, Alvan Ikoku, said the new window would boost liquidity in the forex market and ensure timely execution and settlement for eligible transactions.
Investors in small businesses and exporters have always decried the closure of several investments due to lack of access to foreign exchange to procure necessary facilities to support their operations.
despite Central bank of Nigeria CBN, intervention to close forex margin between official and parallel market.
The currency also depreciated against the Pound sterling and Euro at the street market to 495 and 415 respectively.
This is coming as the Central Bank of Nigeria, CBN, on Friday opened a special foreign exchange window for investors and exporters.
CBN’s Director in charge of Financial Markets, Alvan Ikoku, said the new window would boost liquidity in the forex market and ensure timely execution and settlement for eligible transactions.
Investors in small businesses and exporters have always decried the closure of several investments due to lack of access to foreign exchange to procure necessary facilities to support their operations.
