Naira firms at N362 per dollar as CBN supports forex market with $210 million

-

  • Nigerian naira firms at an average of N362 to a dollar at the parallel market.

  • CBN supports the interbank foreign exchange market with $210 million to hold the naira stable.
  • The country's foreign reserve drops to $42 billion.
The Nigerian naira firmed at an average of N362 to a dollar at the parallel market on Tuesday as the Central Bank of Nigeria supported the forex market with $210 million.

At the official market rate, the local currency closed firm at N306.60 to the dollar and shed 0.10% to close at N363.50 at the I&E – Investors’ & Exporters’ FX Window.

The apex bank sustained its intervention in the foreign exchange (forex) market as authorised dealers in the wholesale segment received the sum of $100 million to meet the requests of their customers.

The CBN also allocated the sum of $55million each to the small and medium scale enterprises (SMEs) segment and the invisible segments, comprising requests for tuition fees, medical payments and Basic Travel Allowance (BTA), among others.


Comments

Post a Comment

Popular posts from this blog

Simi gushes over husband Adekunle Gold at 32

-
Image
Nigerian singer, Simisola Ogunleye, aka, Simi has celebrated her husband, Adekunle Gold on his 32nd birthday. The duo got married in a private ceremony earlier in the year with 300 guests in attendance. Award-winning Simi took to her Instagram account to convey sweet words to her singer husband. She wrote: “light of my life. I love you. I also really like you and the way you do your things. I’m such a lucky babe. You’re also lucky… I know God knows how much I want to prosper and shine and win and laugh and be happy, so I pray God grants my heart desires. Happy birthday, Champ.“ The duo, a week ago, released their first song together as a couple. The song, titled Promise, has since gathered over a million views on YouTube.
Read more

Ohanaeze directs Igbos to vote for Atiku, Obi in 2019 presidential election

-
Image
The Ohanaeze Ndigbo has directed Igbos to cast their votes for the presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar, in the February 16 presidential election. The endorsement of the former vice president was announced by the President General of the Igbo socio-political group,  John Nwodo , in a statement released on Thursday, January 24, 2019 after a meeting of the Ime Obi, the group's highest decision-making council. He noted that the decision was carefully made in consideration of many issues, especially in regards to the plans of candidates on the restructuring of the federation. The group also noted that Atiku's choice of  Peter Obi , a former Anambra State governor, as his running mate gives the Igbos an opportunity for inclusivity in government. The statement read,  "After a critical and dispassionate appraisal of the issues and the visible fault lines in our polity, including the analysis of the election manifestos of the va...
Read more

Truck crushes mother, children to death in Anambra

-
Image
A woman and her two children were on Friday crushed to death by an articulated truck along Otolo/Okigwe road in Nnewi, Anambra State. The deceased was said to be on a motorcycle with her four kids when they were knocked down by driver of the vehicle, with REG number AWK- 575- ZW. A witness, who identified himself as Theo, said the truck driver was on top speed when he suddenly lost control and rammed into the motorcycle. The State Police Public Relations Officer, Haruna Mohammed, confirmed the incident, saying the woman and two of her kids lost their lives in the accident. He said the other two children were rescued and were responding to treatment, while the driver was still at large. He said, “There was a fatal Motor vehicle and motorcycle accident along Otolo/Okigwe road in Nnewi LGA of Anambra State. Accident involved a Mercedes 911 Tipper with REG number AWK- 575- ZW while on speed lost control and knocked down motorcycle rider one Blessing Iteshi ‘f’ of Ikwo in Ebo...
Read more