Business Naira Watch: Tracking Nigeria's Currency [Day 10]

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Nigerian Naira, Friday fell against the dollar, trading at 282.13 to a US dollar, ten official business day after the Central Bank of Nigeria removed peg on the country's currency rate.

The new foreign exchange policy received a million foreign investment boost as the Central Bank of Nigeria, CBN, and Citibank Nigeria Limited executed the first Naira-Settled Over the Counter (OTC) Foreign Exchange Futures.

Naira traded 280.12 to a United States Dollar as of 10:15am in Lagos, nation’s commercial hub, according to data retrieved from Bloomberg terminal.

At the close of the trading period, the Naira was spotted at N282.13 to a US dollar at the inter-bank market.

nairadollar.jpe

Naira Watch: Tracking Nigeria's Currency [Day 9]

Thursday- Closed: 281.259

Today Open: N281

High Rate: N282.13

Low: N280


 
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