Naira Appreciates to 1,468 per Dollar as MPC Meets
After weeks of free fall, the Naira has finally made a comeback against the US dollar, reaching a new high of 1,468 in the official market.
According to Economic Confidential findings at the parallel market, the average selling rate is ₦1650 per dollar.
The Naira has been facing challenges in recent months, collapsing to as low as nearly 2000 to a Dollar.
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The Central Bank of Nigeria (CBN) has put in some interventions which are now starting to yield positive outcome.
The CBN Monetary Policy Committee (MPC) is scheduled to meet on Monday for the first time in months and it is expected to decide on lending rate and other issues that affect the monetary side of the economy.
CBN governor, Olayemi Cardoso, will brief journalists on the outcome of the meeting on Tuesday and he is expected to be grilled on measures taken to strengthen the Naira and keep it stable going forward.
