Business

Naira rebounds marginally against dollar

NFIU pegs LGs daily cash withdrawal at N.5m

The Naira made a modest gain of 50 kobo against the US dollar to close at N360 on Monday.

The British Pound Sterling sold at N472 while the Euro closed at N411 on Monday as well.

Bureau De Changes in the country sold the dollar at N360, while the Pound Sterling and the Euro traded at N462 and N411, respectively.

Read also: FOREX: CBN injects N273m into retail secondary market

However, at the investors’ window, the naira closed at N364.3 with market turnover standing at $148.67m.

It would be recalled that the Central Bank of Nigeria, CBN, has vowed to keep injecting liquidity into the foreign exchange market in its resolve to stabilize the market and defend the naira.

Ripples Nigeria

We are an online newspaper, very passionate about Nigerian politics, business and their leaders. We dig deeper, without borders and without fears.
www.ripplesnigeria.com

Join the conversation

Opinions

About the author

Ripples Nigeria

We are an online newspaper, very passionate about Nigerian politics, business and their leaders. We dig deeper, without borders and without fears.
www.ripplesnigeria.com

Do NOT follow this link or you will be banned from the site!