MPC Meeting: Currency Traders Optimistic About Naira Value

Channels Television  
Updated September 15, 2016

Naira, dollar, Market FX marketCurrency traders expect a mixed performance for the Naira ahead of next week’s meeting of the Central Bank of Nigeria’s Monetary Policy Committee.

The Naira appreciated to 306 naira 33 kobo against the Dollar on Wednesday and 416 naira 19 kobo to the Pound but weakened to 365 naira 38 kobo against the Euro on the interbank platform.

At the parallel market the local unit also firmed to 423 to the Dollar and 550 to the British Pound while it traded flat at 470 to the Euro.