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Foreign Exchange Update – The Naira Appreciates in Value against Dollar but Fall to Pounds

Mobizone

Foreign Exchange Update – The Naira Appreciates in Value against Dollar but Fall to Pounds

Nigerian Naira Depreciates Against Dollar As CBN Injects $195m

The Naira has gained strength against the American Dollar and Euro at parallel market at the close of Bureau de Change window on Tuesday.

The Nigerian Naira on Tuesday, October 3, appreciated against the American Dollar and Euro at the parallel market but crashed against Pound.

Findings revealed that the local currency has strengthened to N364 per US dollar as against the N365 rate it was on Monday, October 2.

The Naira also appreciated to N427 against the Euro from the previous rate of 430.

The Central Bank of Nigeria (CBN) on Monday, September 25, 2017, boosted the forex market by offering a total of $195 million in three segments of the market.

In the wholesale Secondary Market Intervention Sales (SMIS), of the inter-bank Foreign Exchange.

The post Foreign Exchange Update – The Naira Appreciates in Value against Dollar but Fall to Pounds appeared first on Mobizone.

October 5, 2017 http://mobizone.ng/foreign-exchange-update-naira-appreciates-value-dollar-fall-pounds/

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