Naira Appreciates, Exchanges N363.5 per Dollar

 In Investor News

The Naira yesterday appreciated to N363.5 per Dollar in the parallel market in response to measures introduced by the CBN over the weekend to boost Dollar supply.

Meanwhile, Governor of the CBN, Mr. Godwin Emefiele, yesterday commenced on-the-spot monitoring of Over-the-Counter (OTC) sales of Foreign Exchange (Forex) by banks to customers in a bid to ensure compliance with the CBN directive that Banks sell Dollars to all travellers with valid documents across the counter.

Speaking to journalists during the visit, he said: “The essence of this visit is to see whether the Banks are doing what they were asked to do.

“I must say that I am happy. The policy hasn’t gained ground. I would have loved to see a long queue of people wanting to buy Business Travel Allowance (BTA) from the Bank.

“I seize this opportunity to tell all Nigerians that all the Banks are stocked with foreign currency and that people should not have problem coming to a Bank, I repeat, whether it is your Bank or not, walk in and you will see a cubicle marked PTA/BTA or Bureau de Change. You can go in there and buy your Dollar.

“The price, like you heard the gentleman talk about is N360 to a Dollar that you are going to pay.”

Naira appreciates, exchanges N363.5 per dollar

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