Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.

 

Naira appreciates against dollar

24 November 2016, 08:23

Lagos - The Naira on Wednesday appreciated against the dollar at the interbank market.

The Nigerian currency gained 50k to close at N304.50 compared to N305 it traded on Tuesday.

At the Bureau De Change window, the Naira was sold at N400 CBN controlled rate, while the Pound Sterling and the Euro traded at N565 and N500, respectively.

Skeletal but clandestine trading at the parallel market saw the Naira closed at N470 to a dollar, while the Pound Sterling and the Euro closed at N565 and N500, respectively.

Traders said that dollar scarcity persisted in the market as dealers seek more unconventional ways of meeting the needs of their customers.

The parallel market had been in the eyes of the storm as security agents were on the lookout for currency traders.

The apex bank gave a nod to the ongoing crackdown on currency traders at its Monetary Policy Committee meeting on Tuesday.

Since the battle line had been drawn between the security agents and traders, dollar scarcity was expected to persist along the frontiers of the parallel market.








- NAN

NEXT ON NEWS24 NIGERIAX
&nbps;

Read more from our Users

Submitted by
Isaac Asabor263
Separating kitchen politics from ...

Like everyone else, I believe that the most popular definition of democracy is “government of the people, by the people and for the people”. Read more...

Submitted by
Bethel Tanifo
Ministry of Niger Delta Affairs, ...

Like NDDC Unlike MONDA. This notion is an intuition that does not portend political participation, affiliation, intrusion or aggression but a submission with the intention of completion of the previous administration's noble vision. Read more...

Submitted by
Bethel Tanifo
Nigerian Constitution versus Corr...

The problems of Nigeria is not in its conventional composition, formation, functionality, constitution or treaty, while the solutions are not disintegrations as promulgated by some faiths fanatics and bigotries.  Read more...

Submitted by
Abdulsalam Jubril
Much Ado about Trump’s Presidency

It was unbelievable when the social and mainstream media all over the world began airing the breaking news of Donald Trump’s victory in the most contentious US Presidential elections in recent years. Read more...

Submitted by
Mike Daemon
Nigerian author highlights gay ch...

A new novel by a prolific young Nigerian author features gay characters, which could help increase the visibility of the gay community and possibly lead to greater understanding of LGBT Nigerians. Read more...

Submitted by
Isaac Asabor263
Your Excellency, I will call you ...

Your Excellency, Governor Adams Oshiomhole, as a leader that pays attention to details, I understand that the odd title of this piece would definitely arouse your curiosity.  Read more...