The naira yesterday April 18, appreciated by 31 Kobo against the dollar in the Investors and Exporter (I&E) window. It brought the value to 360.16 Naira to one Dollar even as the Central Bank injected 210 million Dollars into the FOREX market.
CBN Acting Director, Corporate Communications Department (CCD,) Mr Isaac OkoraforCBN Acting Director, Corporate Communications Department (CCD,) Mr Isaac Okorafor confirming the intervention, said 100 million Dollars was offered to authorized dealers in the wholesale segment and 55 million Dollars was given to the Small and Medium Enterprises (SMEs) segment. Finally, another 55 million Dollars was allocated for customers needing foreign exchange for school fees, medical bills, Basic Travel Allowance (BTA), among others.
Data from the Financial Market Dealers Quote (FMDQ) showed that exchange rate for the I&E window dropped from 360.47 per Dollar on Tuesday to 360.16 per Dollar on Wednesday, indicating a 31 kobo appreciation.
