Business
Naira Gains Strongly Against Dollar in Black Market Ahead of CBN Interest Rate Decision
The naira saw a significant appreciation against the US dollar in the parallel foreign exchange market on Monday. According to Abubakar Alhasan, a Bureau de Change operator in Wuse Zone 4, the naira strengthened to N1,617 per dollar, improving from N1,635 recorded last Friday. This marks an N18 gain in value on the black market within just a couple of days.
At the official foreign exchange market, the naira also appreciated, though more modestly. Data from the Central Bank of Nigeria showed the naira closed at N1,598.68 per dollar on Monday, a slight gain of 4 kobo from N1,598.72 on Friday.
The currency’s recent strength comes ahead of the Central Bank of Nigeria’s Monetary Policy Committee meeting scheduled for Tuesday, where a decision on interest rates is expected.
-
Entertainment2 years agoAdanma Luke Appeals for Forgiveness over Junior Pope’s Death: “I’m Gradually Losing My Life, Please Forgive Me”
-
Security News2 years agoRivers: Tension as Gunmen on Speedboat Abduct Fubara, Police Launch Manhunt
-
Security News2 years agoSoldiers in South East Extort, Humiliate Us While Kidnappers Operate Freely Near Checkpoints, Igbo Women’s Group Alleges
-
Politics2 years agoRevealed: Ajuri Ngelale Fired Over Feud with Onanuga, Despite Medical Cover Story
-
General News2 years agoGov. Soludo Seals Peter Obi’s Campaign Office, Edozie Njoku-Led APGA State Office
-
Security News2 years agoEnugwu-Ukwu in Shock: Deadly Ambush Leaves Multiple Dead, Survivors in Fear
-
General News2 years agoVideo: Moment DSS Staff Erupt in Jubilation as News of Bichi’s Sack Announced
-
Breaking News2 years agoJUST IN: Presidential Adviser Ajuri Ngelale Steps Down Temporarily, Cites Reasons