Naira Expected To Rise This Week

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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