Naira Bounces Back Against The Dollar


The Naira this week hedged up slightly against the dollar at the parallel market amid calls for the apex bank to relax its strict foreign exchange policy.

NAN reports that the Naira appreciated by 0.4 per cent this week, as it exchanged for N277 against the dollar from N278 it traded for previously.

Also,the senate had earlier this week urged the CBN Governor, Mr Godwin Emefiele, to relax the strict forex policy, arguing that the policy “was doing more harm than good”.
This was also re-echoed by the Managing Director of the IMF, Ms Christine Lagarde, when she advised the apex bank to operate a flexible forex policy.

nevertheless, the Naira closed at N197 to the dollar at the official interbank window.

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