The naira has fought back after a disastrous fall on Friday and Monday to appreciate against the dollar on Tuesday.
*Photo for illustrative purpose*
The Naira on Tuesday, appreciated against the dollar in all the segments of the Forex market.
The currency gained N44.95 to exchange at N305.27 to the dollar at the interbank market after its Monday’s record of N350. 22.
At the parallel market, the naira gained N5 to exchange at N465
from N470 it traded on Monday, while it went for N565 and N510 against
the Pound Sterling and the Euro, respectively.
Trading at the Bureau De Change Segment saw the currency exchange
at N385, the control rated of the Central Bank of Nigeria and at N564
against the Pound Sterling and N510 for Euro.
Assessing the market, the President, Association of Bureau De
Change Operators of Nigeria, Alhaji Aminu Gwadabe, said that the naira
had prospects of further appreciation in the days ahead.
He said that the CBN was working with Nigerians in Diaspora to woo more remittances back home.
Gwadabe said that the CBN had a robust meeting with stakeholders
and Nigerians in Diaspora at the weekend in London on way to boost
liquidity in the foreign exchange market.
He said that more International Money Transfer Operators had
indicated interest in facilitating the repatriation of remittances from
abroad.
-NAN
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