Business
Naira maintains stability at forex market
The Naira on Monday remained stable at the foreign exchange market as it maintained its rate of N305 to dollar achieved on Friday at inter-bank deals.
At the Bureau De Change (BDC) window, the naira was sold at N385 to a dollar, while it traded at N553 for the Pound Sterling and N500 for the Euro.The currency, however, closed at N455 to the dollar, N547 to Pound Sterling and N495 for the Euro at the parallel market.
The figures were same as Friday’s rate except for Pound Sterling which the Naira exchanged for at N547, appreciating by N3 from N550. Meanwhile, Alhaji Aminu Gwadabe, President, Association of Bureau De Change Operators of Nigeria (ABCON) has called for a greater flexibility in the distribution of foreign exchange to their members. Gwadabe also called for the appointment of one other distributor of the foreign currencies, in addition to Travelex, to ease the challenges faced by some of the association’s members outside Lagos.
-
News22 hours agoCardoso formally receives Central Bank of the Year Award
-
Economy22 hours agoNigeria’s Digital Boom needs nuclear power partnerships for long-term success
-
Uncategorized22 hours ago
June 12 Democracy Day declaration not enough, as citizens wallow in pain – ActionAid, FG declares Friday public holiday
-
Oil and Gas22 hours agoNNPC is house of thieves, fraud; Kyari must be arrested dead or alive to account for N210 trillion—Oshiomhole
-
Oil and Gas22 hours agoDangote Refinery seeks $1bn private placement ahead of planned listing
-
News22 hours agoMiddle East Conflict sends global growth to lowest rate since COVID-19, WBG to Provide up to $100bn for Affected countries over 15 Months—WBG
-
News22 hours agoHigh cost of cooking gas‘ll negatively impact environment, health, CPPE warns