Naira suffers slight setback: After weeks of regaining strength on the foreign exchange market, the naira moved in a reverse direction and dropped, albeit by a small margin, to 385 as against 382 on Thursday morning.
However, the tale on the international scene is different, as it rose to 308.05 to a dollar, as against 314.75 in the early hours of the day.
At the parallel market, the naira maintained its rate against the British pound, but exchanged at 410 to the euro as against 400 at the start of trading.
At the international market, the naira rose to 385.09 as against 391.04 to a pound and 330.59 as against 338.07 to the euro.
The apex bank announced an adjustment to its foreign exchange policy; making foreign exchange available for tuition, medical expenses and basic travel allowance.
It earlier directed banks to sell forex at 375 but amended the policy on Monday, and asked banks to sell at 360.
CLICK HERE to join our BBM Channel for juicy updates & free giveaways
- Meet 10 silent Billionaires in Nigeria – These men control Nigeria’s economy (With Pictures)
- Top 8 Most stylish Kings in Nigeria – 2 of them use the most expensive Rolls Royce cars (With Photos)
- 5 Nigerian celebrities who secretly got married – #3 was even pregnant and no one knew (With Pics)
- 6 things you need to do now if you want to be a millionaire before 40 – #3 is very IMPORTANT
- 15 horrible facts Dubai does not want the world to know about – This will leave you in utter shock (With Pics)
- 12 things a girl does when she likes you already – If you notice #10, you got her bro!
- Meet the richest kids of all time who attended UNILAG – These guys spend like there’s no recession (With Photos)