By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: Foreign Exchange: Naira Appreciates at Parallel Market
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
News

Foreign Exchange: Naira Appreciates at Parallel Market

Farouk Mohammed
By Farouk Mohammed
Published: February 24, 2017
Share
2 Min Read
SHARE

HIGHLIGHT

 


The Nigerian Naira on Friday sustained its gains against the dollar as liquidity boost by the Central Bank of Nigeria had forced a crash in the price of the greenback.

The Naira on Friday sustained its gains against the dollar as liquidity boost by the Central Bank of Nigeria had forced a crash in the price of the greenback.

In Lagos that the Naira exchanged at N460 to a dollar at the parallel market, gaining 40 points from N500 it recorded on Thursday.

- Advertisement -

The Pound Sterling and the Euro traded at N575 and N480 respectively.

At the Bureau De Change window, the Naira closed at N399 to a dollar CBN controlled price, while the Pound Sterling and the Euro exchanged at N610 and N520 respectively.

Trading at the interbank window saw the Naira closed at N305.50 to a dollar.

Traders at the market expected the Naira to sell for less than N400 to a dollar if the boost in liquidity by the CBN was sustained.

- Advertisement -

Meanwhile, Alhaji Aminu Gwadabe, the President, Association of Bureau De Change Operators of Nigeria said that currency speculators were expected to lose billions of Naira to the new forex policy.

Gwadabe said that speculators were already overwhelmed by the policy as they were taken by surprise by the move of the apex bank.

The new CBN policy directing banks to sell forex for school fees, medicals and other allowances was already impacting positively at the market.

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:DollarNaira
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByFarouk Mohammed
Publisher
Follow:
Farouk Mohammed is a Head Editor at Okay Nigeria (Okay.ng). He has been publishing for 10 years and focused more on Local/World News on Okay.ng
Previous Article US: Donald Trump Comes Hard For FBI Over Leaks Of Classified Information
Next Article MASSIVE SHAKE-UP: FG Sacks All Directors of NCAA

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Dollar to Naira Exchange Rate

Okay.ng Logo
Buy Rate ₦1,605.00
Sell Rate ₦1,620.00

Last updated: 4 days ago (June 3, 2025 2:33 pm)

Displayed rates are for informational purposes only and are subject to change.

USD/NGN Converter

- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Pastor Adeboye
Pastor Adeboye Shares Divine Directive: Leaving RCCG Could Lead to Tragic Loss
News
Anglican Bishop of Lafia Calls on President Tinubu to Address Root Causes of Nigeria’s Insecurity and Economic Woes
News
Egbe Bobakeye Okunrin Akile Ijebu Refutes False Claims About Queen Elizabeth II’s 1956 Visit
News
NRC Managing Director Warns Against Railway Vandalism: “We Don’t Have Scraps, We Have National Assets”
News
Tragic Head-On Collision in Jigawa Claims Nine Lives, Dozens Injured
News
- Advertisement -
Ad imageAd image

You May Also Like

Sport

Victor Osimhen Returns to Nigeria as Al Hilal Transfer Hangs in Balance Ahead of FIFA Club World Cup

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 7, 2025
News

Tinubu Urged by PDP to Cut Fuel and Electricity Costs Amid Eid-el-Kabir Festivities

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 7, 2025
Mike Ejeagha
News

Mike Ejeagha, Nigerian Highlife Maestro, Dies at 95

Muhammad A. Aliyu
Muhammad A. Aliyu
June 7, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?