Naira remains stable against the dollar across the forex markets despite liquidity squeeze
The forex turnover dropped by 64.4% while the exchange rate remained stable at N386/$1.
The forex turnover dropped by 64.4% while the exchange rate remained stable at N386/$1.
Naira appreciated against the dollar at the Investors and Exporters (I&E) window on Monday.
The drop is due to pressure on the black market as a result of a scarcity of dollars.
The opening indicative rate was N387.32 to a dollar on Wednesday.
The CBN still continues to warn against currency speculators who patronize the black market.
Between 2012 and 2017 the naira has depreciated by 30% compounded annually.
Forex traders are wondering what next from the CBN.
The CBN still continues to warn against currency speculators who patronize the black market.
Reports reaching Nairametrics indicates the CBN has instructed bidders at its Secondary Market Intervention Sales (SMIS) to increase their bidding ...
At the black market, the naira appreciated marginally by N1 to a dollar to close at N461 to a dollar.
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