Friday, March 31, 2017

Dollars demand Raises Rate to N380

   

   Increasing demand for the dollar at the parallel market on Thursday resulted in the rise of the greenback currency to N380 from N370 on Wednesday in Abuja.

  The Naira also depreciated against the Euro, exchanging at N400, from N390 on Wednesday.
The Naira, however, appreciated against the Pound Sterling, trading at N465 from N470 on Wednesday.
   It would be recalled that the CBN on Tuesday slashed the rate at which it sold forex to Bureau de Change, BDCs, in Nigeria to N360 and directed the BDCs to sell to end users at not more than N362 to a dollar.

No comments:

Post a Comment