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Nigerian naira on Tuesday gained 0.74 per cent to close at 407 at the parallel market as Central Bank of Nigeria, CBN, increased forex liquidity to market dealers.
The currency remained stable against the Pound sterling and Euro at 497 and 430 respectively.
At the official market, the Naira appreciated by 0.03% against the dollar to close at N306.00.
The Naira is expected to appreciate on the black market side this week, following the Central Bank of Nigeria’s plan to increase dollar sale to $40,000 from $20,000 to retail currency bureaus in order to boost liquidity and help support the local currency.
The currency remained stable against the Pound sterling and Euro at 497 and 430 respectively.
At the official market, the Naira appreciated by 0.03% against the dollar to close at N306.00.
The Naira is expected to appreciate on the black market side this week, following the Central Bank of Nigeria’s plan to increase dollar sale to $40,000 from $20,000 to retail currency bureaus in order to boost liquidity and help support the local currency.