Forex Balances On N388 To $1

By Mojisola Delano On May 11, 2017

The naira was stable at N388 per dollar at the parallel market Wednesday. Buisness survey’s revealed that while the parallel market exchange rates ranged from N383 per dollar to N389 per dollar, the average closing rate is N388 per dollar at the close of business Wednesday.

Meanwhile the Central Bank of Nigeria (CBN) is expected to sell $20,000 to each of the over 3000 bureaux de change, hence boosting dollar supply and hopes of further naira appreciation before the end of the week.

Also the apex bank yesterday however indicated intention to sell undisclosed amount dollars to banks to settle a backlog of demand for airlines, fuel and raw material imports.

Source: Vanguard Newspaper, Buisness Insider

Mojisola Delano 9300 posts 129 comments

Moji is a Lawyer, online media aficionado, communications strategist, and entrepreneur in her early 30’s. Her zest and energy to succeed coupled with her very strong interpersonal skills has seen her build her blog from just a passionate hobby to a strong platform for social influence and brand.

Today she has expanded to having her own company SMD Media. SMD Media consults for large corporates drawn especially from the Finance, Technology, Advertising and Media, Creative Arts sectors, where her brand has grown significant leverage and contacts.

She is also the pioneer Chairperson of the Digital Media Practitioners of Nigeria-DMPN, an Association whose vision is to influence on a larger scale for a greater good to impact lives positively, ensure the standardisation and the continuous enthronement of ethical practises within the digital space .

Moji is a lover of the Arts, Fashion and Entertainment with a strong plan to own her own shoe/bag line, record label, Movie production company among other things.

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