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Naira Gains Value

Naira Gains Value

On Tuesday, the Naira appreciated against the dollar in all the segments of the forex market. The currency gained 44.95 naira exchange at 305.27 naira to the interbank market after its Monday’s record of 350.22 naira.

The naira gained 5 naira to exchange at 465 naira rom 470 naira it traded on Monday, while it went for 565 naira and 510 naira against the pound sterling and the euro respectively at the parallel market. Trading at the Bureau De change segment saw the currency exchange at 385 naira, the control rated of the Central Bank of Nigeria and at 564 naira against the pound sterling and 510 naira for Euro.

Checking the market, the President Association of Bureau De Change Operators of Nigeria, Alhaji Aminu Gwadabe said that the naira had prospects of further appreciation in the days ahead. He said that the CBN was working with Nigerians in Diaspora to get more remittances back home.

 

Alhaji Gwadabe said that the CBN had a robust meeting with the stakeholders and Nigerians in Diaspora at the weekend in London on a way to boost liquidity in the foreign exchange market. He also said that more international money transfer operators had indicated interest in facilitating the reparition of eittances from abroad. 

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