The Pound Sterling and the Euro closed at N585 and N515, respectively.
Trading at the investor’s window saw the naira closing at N386.21 to a dollar as investors traded a total of 45.22 million dollars.
Meanwhile, Prof Sheriffdeen Tella, a Senior Economist at the Olabisi Onabanjo University Ago-Iwoye, Ogun, noted that the volume of FOREX sold to BDCs was insignificant relative to the demand for dollars.
Tella said that the demand for dollars by genuine importers and for overseas school fees was very high.
“Unless the CBN is consistent with its interventions at the foreign exchange market in the weeks ahead, the naira may continue to fall,” Tella said.
Edited By: Hadiza Mohammed-Aliyu
Short Link: https://wp.me/pcj2iU-3tSK