L
LequteMan
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The Central Bank of Nigeria (CBN) yesterday adjusted its exchange rate peg to N196.95/dollar from the N197 set since July, traders said, quoting a broadcast from the regulator.
This is the sixth adjustment since the central bank introduced a tight controls on the foreign exchange market in February.
The Naira however appreciated on the parallel market on Wednesday, trading at N222 to the dollar, better than N224.50 a dollar on Tuesday after the central bank injected $80 million into the bureau de change market, traders said.
The naira also closed firmer at the new rate of N196.50 to the dollar at the official interbank market compared with N197 per dollar rate the previous day.
Leadership
This is the sixth adjustment since the central bank introduced a tight controls on the foreign exchange market in February.
The Naira however appreciated on the parallel market on Wednesday, trading at N222 to the dollar, better than N224.50 a dollar on Tuesday after the central bank injected $80 million into the bureau de change market, traders said.
The naira also closed firmer at the new rate of N196.50 to the dollar at the official interbank market compared with N197 per dollar rate the previous day.
Leadership
