Business

Dollar supply rises by 180% as banks sell $440m

today02/05/2024

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Dollar supply in the official foreign exchange market rose by 180.59 percent to $440.13m on Friday.
This is as the naira closed the week at N1435.53/$ on Friday after what was a turbulent week.
The improved liquidity is following moves by the Central Bank of Nigeria to stabilise the foreign exchange rate. Before closing at N1435.53/$ on Friday, the naira traded at an intraday high of N1526/$ and low of N838.96/$.
At the parallel market, on Friday, the naira closed at N1,420/$ with a steady demand for the greenback.

Written by: bossgmsi

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