By Modupe Gbadeyanka
The Nigerian Naira breathed a fresh air on Tuesday at the parallel market barely 24 hours after the Central Bank of Nigeria (CBN) released a new foreign exchange policy to ease the pressure on the country’s local currency.
Business Post correspondent reports that the Naira, which went for N522 to the Dollar at the black market in Lagos on Monday evening, was exchanged for N516 per Dollar on Tuesday afternoon.
On Monday, the apex bank rolled out a new policy to make forex easily accessible to customers.
As part of the initiatives, the CBN directed all commercial banks operating in the country to open forex retail outlets at major airports in Nigeria, adding that the Dollar should not be sold above N370.
Our correspondent further reports at that as at the time of filing this report on Tuesday afternoon, the Pound Sterling was being exchanged at the parallel market at N630 compared to N635 it opened, while the Euro was selling at N540 against N545 it opened this morning.
Meanwhile, some Nigerians have expressed mixed-feelings on the new CBN forex policy.
Stay with us as we bring a report on this very soon.
Adedapo Adesanya