Naira Strengthens To N468/$1.

Naira strengthens to N468/$1 at parallel market
39 minutes ago
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The Naira continued its appreciation at the parallel market today, October 12, as it climbed to N468 to the dollar from N470 to the dollar the previous day.
The local currency also strengthened to N570 from N590 against the British Pound Sterling, but crashed to N517 against the Euro from the N510 rate it was yesterday.
The recent growth of the Naira comes on the heels of the intervention of Travelex in the Bureau De Change (BDC) segment of the market.
Dollar to Naira
The Central Bank of Nigeria (CBN) and Travelex last Friday, October 7, started implementing a new arrangement whereby the global forex dealer now sell the greenback to BDCs.
The policy has seen an increase in level of liquidity in the market.