The naira is expected to remain flat but rather stable this week ahead of the rollout of the foreign exchange policy of the Central Bank of Nigeria.
The Nigerian currency which seemed poised for a run of depreciations at the parallel market following the new development in the country’s downstream oil sector, crashed further on Friday, May 13, ending the week at N360 per dollar.
Google fact check today, May 16, shows that the naira has strengthened against the dollar and now sells for N343 to the greenback as against the N360 rate on Friday.
This was disclosed by our Bureau de change sources.
Speaking to NAIJ.com, our BDC source in Katsina said: “The naira now trades at N343 to a $1. There is rush for dollars following government’s decision to throw open permission to import and sell Petrol Motor Spirit (PMS), to any interested Nigerian entity.”
Another of our BDC sources in Lagos said:
“The naira trades at N350 here in Ikeja, although many shops don’t have to sell.” The president of the Association of Bureau de Change Operators of Nigeria
SOURCE;- Naij.com
The Nigerian currency which seemed poised for a run of depreciations at the parallel market following the new development in the country’s downstream oil sector, crashed further on Friday, May 13, ending the week at N360 per dollar.
Google fact check today, May 16, shows that the naira has strengthened against the dollar and now sells for N343 to the greenback as against the N360 rate on Friday.
This was disclosed by our Bureau de change sources.
Speaking to NAIJ.com, our BDC source in Katsina said: “The naira now trades at N343 to a $1. There is rush for dollars following government’s decision to throw open permission to import and sell Petrol Motor Spirit (PMS), to any interested Nigerian entity.”
Another of our BDC sources in Lagos said:
“The naira trades at N350 here in Ikeja, although many shops don’t have to sell.” The president of the Association of Bureau de Change Operators of Nigeria
SOURCE;- Naij.com
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