Exchange Rates: Naira improves to N460 to the Dollar

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The Naira traded at N460 in the parallel markets against the US Dollars, rising significantly after it was traded at N520 earlier in the week.

Many believe the recent reductions in parallel rates is as a result of the release of forex by the Central Bank of Nigeria (CBN) to alleviate the pains in school fees, medical fees and and personal traveling allowance payments.

The CBN pegged exchange rates for payment of the school fees, and personal travel allowance (PTA) and medicals at N375 to the dollar.

 

Table source: AbokiFX

NGN
 

USD

BUY / SELL

 

GBP

BUY / SELL

 

EUR

BUY / SELL

24/02/2017 440 / 460** 540 / 575** 440 / 480**
24/02/2017 490 / 495* 595 / 600* 495 / 510*
23/02/2017 490 / 495 595 / 600 500 / 510
22/02/2017 495 / 505 610 / 620 505 / 520
21/02/2017 510 / 516 620 / 630 530 / 540
  • vic

    CBN SHOULD ALLOW THE USE OF INTERNATIONAL NAIRA CARD FOR THE NIGERIAN DIASPORA IN FOREIGN COUNTRIES TO FACILITATE THE PAYMENT OF SCHOOL FEES, MEDICAL BILLS AND OTHER SUNDRY EXPENSES BY USING THE ATM MACHINES IN THOSE FOREIGN COUNTRIES WITHOUT THE NEED FOR TRAVEL TO NIGERIA FOR ROUND TRIPPING TO ACQUIRE FOREIGN EXCHANGE.

    I HOPE GOVERNOR GODWIN EMEFIELE IS LISTENING.