curator
Administrator
The naira, this week, is expected to stabilise following anticipated support from the monetary authority, analysts have said.
In a report by Cowry Asset Management Limited, the naira closed steady at the official market after the Central Bank of Nigeria (CBN) offered USD800 million but sold USD767.59 million to end users at its bi-weekly Retail Dutch Auction last week.
Also, the exchange rate last week steadied at the parallel (or ‘black’) market at N172.00/USD. On a positive note, the local currency appreciated against the greenback at inter-bank forex market segment by 0.66% (or N1.09) to N164.51, in line with analysts’ expectations.
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Source: BusinessDay Newspaper
In a report by Cowry Asset Management Limited, the naira closed steady at the official market after the Central Bank of Nigeria (CBN) offered USD800 million but sold USD767.59 million to end users at its bi-weekly Retail Dutch Auction last week.
Also, the exchange rate last week steadied at the parallel (or ‘black’) market at N172.00/USD. On a positive note, the local currency appreciated against the greenback at inter-bank forex market segment by 0.66% (or N1.09) to N164.51, in line with analysts’ expectations.
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Source: BusinessDay Newspaper