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The Nigeria currency on Friday has appreciated against the US dollar, gaining N0.18k to close at N364.9k per dollar compared with N365.12k$ traded the previous day at the investors and exporters forex window, data from FMDQ show.
At the central bank official forex window, the local currency traded stable, closing at the rate of N306.90k to the dollar.
However, naira lost N1.00k at the parallel market, as it closed at N363 per dollar after trading on Friday, as against N362 the previous day.
The figures obtained from the CBN revealed that the US dollar denominated interventions were for request in the agricultural and raw materials sectors while the Yuan sale was for payment of Renminbi-denominated letters of Credit for agriculture as well as raw materials.
Director corporate communications at CBN, Isaac Okafor said, the move was in furtherance of the CBN governor’s avowed commitment to ensuring foreign exchange liquidity in the system as well as boosting trade production.