Dollar stumble further today & naira appreciate, hits N475 per dollar

  • Parallel market traders close sell at N475 per dollar.
  • Naira continued to appreciate further today, N20 difference as against yesterday.
  • Speculators rush to seller their preserved dollars.
  • Sale by parallel traders decreases tremendously.
  • Speculators and BDC agents are hard hit at rate of Naira appreciation the parallel these days.

The Nigerian Naira has continued strength following the injection of $500M special wholesale intervention forward sale in the interbank forex market.

Our national currency is now valued at N475 to USD1 on the parallel market, appreciating in value of N20 as against yesterday. While some market operators did sell at N480 per USD1 in the morning, today.

The Central Bank of Nigeria official prices remains N315 per USD1.

The British pounds remain slightly stable at N610 as against yesterday sell.

EUR also is slightly stable as against yesterday parallel market, sell close at N505.

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