Naira enters new week on a high note


The Naira strengthened further against the dollar at the weekend as it exchanged for N364 per dollar at the parallel market.

The Naira had on Friday closed at N365 rate per dollar.

But the weekend jump followed two interventions, last week, by the Central Bank of Nigeria (CBN), which totalled $449.3 million.

CBN had last Monday injected the $195 million into various segments of the inter-bank market.

Those seeking forex for business and personal travel, tuition and medical bills, among other invisibles, received the sum of $45m.

On Friday, the apex bank again injected $254.3 million towards the end of daily transactions.

He said intervention covered companies in the raw materials, agriculture, airline and petroleum industry.