\n
The Naira recorded a significant gain against the US Dollar at the Foreign Market amid the Central Bank of Nigeria\u2019s sweeping policy interventions.<\/p>\n
Data from FMDQ showed that the Naira appreciated N1419.86 per Dollar on Monday from N1,435.53 on Friday.<\/p>\n
This represents a 1.1 per cent or 15.67 gain compared to N1,435.53 recorded at the close of trading on Friday.<\/p>\n
Similarly, Naira recorded a gain at the parallel market, which traded at 1,410 per US dollar on Friday from N1,440 last Friday.<\/p>\n
In the last seven days, CBN, under its Governor, Olayemi Cardoso, has released four policy reforms to wrestle down the free fall of Naira.<\/p>\n
CBN last week issued \u2018Financial Markets Price Transparency and Market Notice of a revision to the FMDQ FX Market Rate Pricing Methodology\u2019 resulting in the weakening of Naira from N891.90 per US dollar on 26th January to N1,410 on Monday.<\/p>\n
Similarly, DAILY POST recalls that CBN also released a guideline last week Wednesday to curb foreign currency hoarding and speculation.<\/p>\n
Also, the CBN issued fresh guidelines for International Money Transfer Operators in Nigeria and removed the cap on the exchange rate quoted by IMTOs.<\/p>\n
Naira gains against US Dollar at foreign market<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"
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