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The Nigeria Naira Wednesday appreciated by N12 to N385 against the Dollar in the parallel market due to $62 million dollar supply to bureaux de change segment by the Central Bank of Nigeria (CBN).

As a result, the parallel market exchange rate dropped from an average of N397 per dollar on Tuesday to N385 per dollar at the close of business yesterday. Confirming this development, Managing Director/Chief Executive, H.J Trust BDC, Mr. Harrison Owoh said.

 

“The appreciation shows the importance of BDCs in the foreign exchange market. Everybody is happy about the appreciation, and we expect it to continue”.

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