Naira Closes at N1,050 per Greenback at Parallel Market

Naira Closes at N1,050 per Greenback at Parallel Market

The naira yesterday exchanged at N1,050 to greenback on the parallel market.

It exchanged at N1,125 to greenback on over the weekend, representing N75 appreciation. Naira appreciated by 0.56 per cent to shut at N1,136 to greenback on the official market.

The native foreign money had of current commenced fast restoration, as volatility available in the market dropped after the Central Financial institution of Nigeria (CBN) commenced greenback gross sales to bureau de change operators.

The CBN just lately directed that each one authorised sellers to pay Private and Enterprise Journey, allowances (PTA/BTA) to their clients by way of digital channels solely, together with debit or bank cards as a substitute of money.

“Consistent with the Financial institution’s dedication to make sure transparency and stability within the international alternate market and keep away from international alternate malpractices, All Licensed Supplier Banks shall henceforth impact payout of PTA/BTA by way of digital channels solely, together with debit or bank cards. For the avoidance of doubt, cost of PTA/BTA by money is not permitted,” the financial institution mentioned.