The naira, which in the last few days, recorded
marginal losses, is likely to strengthen today as the Central Bank of
Nigeria (CBN) will boost liquidity in the market with $240 million. The
naira yesterday traded at N395 to dollar, from N385 to dollar at the
weekend.
A statement from the apex bank, said $90 million will be deployed to
meet genuine demands for invisibles such as Business Travel Allowances
/Personal Travel Allowances, medicals and tuition fees.
The apex bank, also said a total of $150 million will be offered to
authorised forex dealers in the interbank wholesale auction window.
CBN’s Acting Director, Corporate Communication, Isaac Okorafor, said
the CBN had adjusted Bureau De Change (BDC) sale days to Tuesdays only
to reduce logistical difficulties.
He added that henceforth the CBN would sell $10,000 only to low-end forex dealers once a week.
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