The nation’s currency closed at to a dollar on Friday as a positive result and Effort yielded by the Central Bank of Nigeria to salvage the Naira
The Central Bank of Nigeria CBN also injected a total of $380 million into the forex market increased the forex allocations of Bureau de Change operators to meet the needs of customers, this happened during the week of which this is not the first time allocation was increased.
The first time, it was ranging from $8,000 per week to $10,000 per week on March 30.
But the good news is that Central Bank of Nigeria CBN has announced would increase the weekly allocation of BDCs from $10,000 to $20,000.
* On the international market, the Naira closed at N315.99 to a dollar, N404.5 to a pound and N338 to the euro.
*At the parallel market, the Naira closed at N385 to a dollar, N490 to a pound and N410 to the euro.
*On April 12, the CBN made spot sales totaling $100 million to interested SMEs through its newly opened foreign exchange window for small scale importers.