The Nigerian Naira at the end of business on Monday depreciated further to 307.5 units per dollar at the official market.
It had closed at 307 to a dollar last week at the official market from the 305.50 level it had traded since last year. The currency is 445 at the black market, firmer than the 450 a dollar it closed on Friday.
The CBN on Monday also announced that it offered a total of $180m to meet bids for forwards, which includes requests for invisibles such as medicals, school fees and personal travel allowances valued at $80m, through the interbank window.
According to Acting Director of Corporate Communications Department Isaac Okorafor, the wholesale requests would be settled on Tuesday (today). He confirmed that the closing interbank rate was N307.5/$1.
He added that the naira should further strengthen in the foreign exchange market in the days to come because of the fresh supply of dollars.
The CBN on Monday also announced that it offered a total of $180m to meet bids for forwards, which includes requests for invisibles such as medicals, school fees and personal travel allowances valued at $80m, through the interbank window.
He added that the naira should further strengthen in the foreign exchange market in the days to come because of the fresh supply of dollars.
CBN Releases $180m Forex as Naira Falls at Official Market
![CBN Releases $180m Forex as Naira Falls at Official Market]()
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