Naira
There are signs that the Dangote refinery would begin selling its petroleum products, especially diesel to local regional distributors by next week.
The naira strengthened by 1.78% to settle at N1,382.95 to the dollar on Monday, according to FMDQ statistics, from its previous closing of N1,408.04/$1.
The benchmark interest rate was increased to 24.75 percent by the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) by 200 basis points.
Nigerians have shared their opinions in response to reports of the CBN selling dollars at a cheaper rate to the BDCs in an effort to strengthen the naira.
In just one week, the Nigerian currency has gained massively against the pound sterling, recording over N200/£ across the official and unofficial markets.
The Nigerian currency, the naira, appreciated once again against the US dollar in the official and black foreign exchange markets as CBN sells more dollars to BDCs.
The Association of Bureau de Change Operators (ABCON) has stated that CBN's recent issuance of FGN bonds and OMO actions are responsible for the naira's improvement.
Kingsley Moghalu, a former deputy governor of the CBN, has responded to those who want the local currency, the naira, to exchange at N400 a dollar.
The Central Bank of Nigeria has once again sold dollars to Bureau De Change operators while also setting a limit on the pricing of the dollar to end users.
Naira
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