Why Naira Is Expected To Rise Against Dollar next Week

Naira Exchange Rates – Parallel Market Lagos. *Prevelant Rate – Could be slightly higer or lower based on vendor.
NAIRA (₦) USD ($) EURO (€) GBP (£)
Buy/Sell Buy/Sell Buy/Sell
14/4/2017 406/410 419/433 488/504
13/4/2017 406/410 419/433 488/504
12/4/2017 405/411 420/435 485/501
11/4/2017 403/408 415/430 480/501
10/4/2017 405/413 415/430 480/501

NAIRA EXPECTED TO RISE NEXT WEEK – CHANNELS

The Naira is expected to appreciate on the street next week, following the Central Bank of Nigeria’s plan to increase dollar sale to retail currency bureaus.

The Central Bank is planning to raise dollar sales to Bureau De Change to $40,000 from the present $20,000, which will improve liquidity and help support the local currency.

The local currency was quoted at 410 to the dollar on the street, compared with 398 to the dollar, last week.

At the inter-bank market the local unit closed at 306.10 to the dollar on Wednesday compared with 306.20 last week.

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