ADVERTISEMENT

Currency sells at N400 to dollar

Trading at the interbank market saw the Naira weaker at N308.00 from N307.75 recorded on Wednesday.

Naira notes to join list of accepted trade currencies in Britain

The Nigerian currency gained N10 to close at N400, from N410 posted on Wednesday, while the Pound Sterling and the Euro traded at N500 and N430 respectively.

At the Bureau De Change (BDC) window, the Naira closed at N400, while the Pound Sterling and the Euro traded at N530 and N465 respectively.

Currency traders expressed the hope that the continuous appreciation of the Naira would affect the economy positively.

ADVERTISEMENT

Meanwhile, the Association of Bureau De Change Operators of Nigeria (ABCON) has urged the Central Bank of Nigeria (CBN) to loosen its policies on foreign direct inflow and Diaspora remittances as part of efforts at rate convergence.

ABCON President, Alhaji Aminu Gwadabe said that recent development in the FOREX market had made it important for the CBN to review the rate at which it sells FOREX to BDCs.

Gwadabe explained that a fair playing ground for all operators at the FOREX market was needed for the CBN to achieve its goal for rate convergence at the market.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.ng

Recommended articles

Gov Alia vows to demolish property housing kidnappers, Yahoo boys in Benue

Gov Alia vows to demolish property housing kidnappers, Yahoo boys in Benue

Tinubu appoints former Rivers lawmaker, ex-Naval officer as heads of NESREA, NDRBDA

Tinubu appoints former Rivers lawmaker, ex-Naval officer as heads of NESREA, NDRBDA

Court accuses EFCC boss of contempt over handling of Yahaya Bello's case

Court accuses EFCC boss of contempt over handling of Yahaya Bello's case

Fubara donates ₦350m as Navy moves training headquarters from Lagos to Rivers

Fubara donates ₦350m as Navy moves training headquarters from Lagos to Rivers

Bandits invade Defence Minister's hometown, kill 1, abduct scores

Bandits invade Defence Minister's hometown, kill 1, abduct scores

Cardiologist bags 4-year jail term over patient deaths

Cardiologist bags 4-year jail term over patient deaths

We must continue to support President Tinubu - Ododo tells Kogi residents

We must continue to support President Tinubu - Ododo tells Kogi residents

Tinubu appoints Zenith Bank founder Jim Ovia to chair student loan fund

Tinubu appoints Zenith Bank founder Jim Ovia to chair student loan fund

Husband begs IGP to find his wife who went missing on official police duty

Husband begs IGP to find his wife who went missing on official police duty

ADVERTISEMENT
ADVERTISEMENT