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Nigerian Naira in an early hour trading on Tuesday gained N5 against the US dollar at the parallel market kicking off trading at 455.
Table below shows today's (28/02/2017) exchange rate of the Nigerian Naira against the Dollar, Pound and Euro
TRENDING: Nigeria’s Economy Contracted By 1.5% In 2016 - NBS
This appreciation is coming as the Central Bank of Nigeria said on Monday attacked the green back in favour of the Naira by releasing additional $80 million to retail customers and another $100 million in currency forwards to increase dollar liquidity and support the currency.
The central bank said in a statement it sold $80 million to cover consumer demand and another $100 million via the wholesale forward market.
Traders said banks offered central bank dollars to customers at 375 naira, while at the parallel market, the currency gained 1.1 per cent to close at 455 to the dollar on Monday.
Table below shows today's (28/02/2017) exchange rate of the Nigerian Naira against the Dollar, Pound and Euro
TRENDING: Nigeria’s Economy Contracted By 1.5% In 2016 - NBS
This appreciation is coming as the Central Bank of Nigeria said on Monday attacked the green back in favour of the Naira by releasing additional $80 million to retail customers and another $100 million in currency forwards to increase dollar liquidity and support the currency.
The central bank said in a statement it sold $80 million to cover consumer demand and another $100 million via the wholesale forward market.
Traders said banks offered central bank dollars to customers at 375 naira, while at the parallel market, the currency gained 1.1 per cent to close at 455 to the dollar on Monday.
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