Naira Appreciates Against the Dollar

The Naira appreciated against the Dollar at the parallel market to close at 217 against the green back on Monday from 221 recorded on Friday.  The Naira rose on the back of weak demand for the dollar at the foreign exchange markets.

Forex traders linked this to an improved dollar liquidity occasioned by the sustained sales of the greenback by the Central Bank of Nigeria.

The naira was unchanged at the official interbank market at 197 to the dollar, where the CBN has maintained a tight control by pegging it to the rate of 197 to the dollar

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