Naira strenghtens to N1,380/$ after CBN orders banks to reduce fX exposures

The Naira appreciated on Thursday morning, exchanging for N1,380 to $1 on the parallel market after it fell to over N1,500 on Tuesday and Wednesday.

ThIs is coming amid fresh moves by the Central Bank of Nigeria (CBN), to stabilise the nation’s volatile exchange rate.

The apex bank, on Wednesday, ordered Deposit Money Banks (DMBs) to sell their excess dollar stock latest Thursday, February 1, 2024.

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