This implied that the Naira appreciated by N120, representing a gain of 8.57 per cent when compared to the N1,400 to a dollar at which it traded on Friday.
Yesterday, the Naira saw a recovery against the US dollar at the parallel market, appreciating to N1280/$, as reported by currency traders according to market information obtained by Nairametrics.
This implied that the Naira appreciated by N120, representing a gain of 8.57 per cent when compared to the N1,400 to a dollar at which it traded on Friday.
Currency traders confirmed that they sold between N1, 280 and N1,300/dollar.
The local currency had, midweek lost a third of its value barely two weeks after strengthening to below N1,000 against the dollar.
It later dropped to N1,400 against the dollar at the black market on reports of fresh demand pressure.
This had made many people to question the impact of the sales of $15.83 million to 1,583 Bureau De Change (BDC) operators by the Central Bank of Nigeria (CBN).
The apex bank had, on Monday announced the sale of $10,000 to its licensed currency traders nationwide at the rate of N1,021/$1 as part of its plans to aid foreign currency accessibility for qualified end users and stabilise the foreign exchange market.
Currency traders had attributed the recent depreciation of the Naira to market forces as supply had been unable to meet up with the demand.
Meanwhile, a data from FMDQ showed that the Naira continued its downward trend against the greenback at the official foreign exchange window, closing at N1,339.23/$1 on Friday.
This represents a 2.24 per cent depreciation when compared to the N1,309.88/$1 that was reported the previous day.
3. CLICK HERE TO DOWNLOAD Tony Gists Entertainment application
4. CLICK HERE TO DOWNLOAD Nysc dating app
5. CLICK HERE TO DOWNLOAD TonyGists App 3
6. CLICK HERE TO DOWNLOAD Honest Web Solution
Subscribe to Tonygists by Email
π Follow Tonygists on Facebook
https://www.facebook.com/tonygiststv
π FOLLOW TONYGISTS ON AUDIOMACK
https://audiomack.com/tonygists
πΈ FOLLOW TONY GISTS ON INSTAGRAM;
https://instagram.com/tonygists
π LIKE TONY GISTS FACEBOOK PAGE:
https://www.facebook.com/tonygists2
π CONTACT OFFICIAL TONY GISTS
Tony@tonygist.com or
tonygists2@gmail.com
π¦ FOLLOW US ON TWITTER
https://twitter.com/tonygists1
π SUBSCRIBE BELOW
https://www.youtube.com/channel/UCcQcUQOsXxHo4t82UyjqtuQ
π Subscribe to honest web solution on youtube:
π CHAT TONY GISTS ON WHATSAPP
https://wa.me/message/I74BWBVZPQQGC1
✔️ JOIN OUR WHAT'S APP GROUP:
https://chat.whatsapp.com/5McXqrChiwP5uiWO52Rkt7
Are You On youtube? subscribe to Hot GIST Channel Latest Updates - @Hot Gist
Are You On youtube? subscribe to Gospel World (which is also owned by Tony Gists) youtube Channel Latest Updates - @Gospel world
Are you on audio mack? Follow Tonygists on audio mack to listen and download to the latest Mfm sermons Latest Updates - @Tonygists
Follow Tonygists on LinkedIn to get more jobs opportunities Latest Updates - @Tonygists
Are You On youtube? subscribe to Honest Ose Channel Latest Updates - @Honest Ose
Are You On youtube? subscribe to Honest Web Solutions Channel Latest Updates - @Honest Web Solutions
Are You On youtube? subscribe to Xtremely Honest Channel Latest Updates - @Xtremely Honest
Are You On Twitter? Follow Us Now For Latest Updates - @tonygists
Are You On FACEBOOK? Like Our Page For Latest Updates - tonygists
Are You On FACEBOOK? Join Our Group For Latest Updates And Interactions - TonyGists
© 2024 Tonygists | Portions are © 2024 Associated Press. All rights reserved. This material may be published, broadcast, rewritten, or distributed.
