Traders Commend CBN As Naira Appreciates To N280 To A Dollar

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As the Nigerian naira appreciates to N280 to a dollar on the Financial Market Dealers Quote (FMDQ), traders at the foreign exchange market ve applauded the Central Bank Of Nigeria for its role in the currency’s value rise.

The naira had prior to its Thursday appreciation closed at N304.75 to the dollar at the official interbank market.

The naira at the Bureau De Change (BDC) exchanged at N385 to the dollar with the pounds sterling exchanging for N550 and the Euro at N504.

The naira’s Thursday appreciation however brought the currency to exchange at N450 to a dollar, N545 and N495 to the pound sterling and the Euro, respectively.

Traders commended the CBN for licensing additional 20 International Money Transfer Operators (IMTO) which has served to ease the bottleneck in Forex market.

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