Business
Naira appreciates at interbank market
The Naira on Monday gained 50k to exchange at N305.00 to a dollar at the interbank market. The Nigerian currency had closed at N305.50 for most part of last week at the interbank market. However, naira remained stable at the parallel market, closing at N465 to a dollar, while Pound Sterling and Euro exchanged at N565 and N490, respectively.
Trading at the Bureau De Change (BDC) window saw the naira closing at N390 to a dollar, CBN controlled rate, while Pound Sterling and Euro traded at N562 and N500 respectively.
Currency traders said that uneasy calm had prevailed at the market due to its raid by officials of the Department of State Security (DSS) in some parts of the country.
Despite the raid, the naira had remained pretty stable. Meanwhile, stakeholders expect the Monetary Policy Committee (MPC) meeting being held in Abuja to come up with policies that would lead to a greater flexibility of the exchange rate.
-
News2 days agoCourt orders British Govt. to pay £420m to 21 coal miners killed by colonial masters
-
Finance2 days agoCBN cuts 1-Year Treasury Bill rate, rejects Bids
-
Maritime2 days agoNIMASA mulls expansion of deep blue project, calls for continued partnership with Navy
-
Economy2 days agoBPE, stakeholders unite to rollout $500m free meters, DisCos pledge to lead drive
-
Business2 days agoMTN to acquire controlling stake in IHS Holdings, eyes full ownership
-
Agriculture2 days agoOver 2.5m metric tonnes of food valued N2trn produced in 2yrs—FG
-
Oil and Gas2 days agoDangote refinery backs gantry loading, cautions against costly coastal evacuation
-
Economy16 hours agoDubai’s consumer electronics maker, Maser Group to invest $1.6bn in Nigeria, others