Naira slides at official window as CBN, Bankers’ C…
Against the dollar, the naira fell on the official Investors and Exporters (I&E) window of the foreign exchange (FX) market on Thursday, Aug. 12.
The value of the Nigerian currency fell 27kobo or 0.06 percent at the end of the session to N410.67/$1 from the previous day’s N410.40/$1, data from the FMDQ Securities Exchange indicated.
The naira was under pressure as market revenue rose 14 percent or $18.57 million as trades worth $150.99 million were executed in the market, compared to the $132.42 million executed during the previous session .
In the unregulated market, however, the local currency maintained stability against the dollar on Thursday as it closed flat at N515/$1.
The Central Bank of Nigeria (CBN) and the chief executives of the deposit money banks under the auspices of the Bankers Committee announced on Thursday that foreign exchange for personal travel allowance (PTA), business travel allowance (BTA), school fees and medical would now be sold online.