The Nigerian naira has staged a recovery against the dollar to close at N490/$1 at the parallel market on Tuesday, December 1, 2020.
This represents a N10 gain when compared to the N500/$1 that it exchanged for on Monday, November 30,according to a report by Nairametrics. Forex turnover rose significantly by 379.6%. However, Naira’s exchange rate at the NAFEX window depreciated against the dollar to close at N394/$1 during intra-day trading on Tuesday, December 1.
This was as a result of CBN’s new policy on diaspora remittances. In the amended procedures for receipt of diaspora remittances, the recipients are allowed to collect dollars and can sell at the black market in an apparent attempt to improve liquidity in the forex market and reduce the disparity between the black market and official market.
SPONSORED LINKS
[TRENDING SONG!!] Romani D-Fans – Bestie (Prod By Krizbeatz)
[TRENDING MIXTAPE!!] DJ Baddo – Bestie Unlimited Mix
[TRENDING SONG!!] TYSG Ft Bad Mz X Kendi Rozzi – Iyariya
INSTALL 9JAFLAVER MUSIC APP, STREAM, DOWNLOAD, AND PLAY MUSIC OFFLINE
CHECK OUT FUNNY PICTURE AND MEME HERE (CLICK HERE)
Chissom Anthony – Glory To God In The Highest [See Trending Gospel Song]
© 2014-2023 9jaflaver. All Rights Reserved.
About us | DMCA | Privacy Policy | Contact us
| Advertise| Request For Music | Terms Of Service
9jaflaver is not responsible for the content of external sites.