The Naira appreciated on Thursday morning, exchanging for N1,380 to $1 on the parallel market after it fell to over N1,500 on Tuesday and Wednesday.
ThIs is coming amid fresh moves by the Central Bank of Nigeria (CBN), to stabilise the nation’s volatile exchange rate.
The apex bank, on Wednesday, ordered Deposit Money Banks (DMBs) to sell their excess dollar stock latest Thursday, February 1, 2024.
The naira is expected to record more significant gains in the hours and days ahead.
See below the CBN letter to banks:
Stay ahead with the latest updates! Join The ConclaveNG on WhatsApp and Telegram for real-time news alerts, breaking stories, and exclusive content delivered straight to your phone. Don’t miss a headline — subscribe now!
