The Central Bank of Nigeria on Monday increased the liquidity in the foreign exchange market by releasing additional $180m for settlement of various transactions.
Tuesday, 28 February 2017
Naira trades flat, set for further gain
The naira closed flat at 445 against the United States dollar at the parallel market on Monday as the foreign exchange market awaits the further release of the greenback by the Central Bank of Nigeria.The CBN has sold additional $180m into the market this week, barely one week after selling about $600m. The steady supply of forex is in line with the modification made to the forex policy by the regulator.
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