ADVERTISEMENT

Currency now selling at N470 to the dollar

The latest rate is an improvement on previous ones as the dollar sold for N510 on Tuesday and N505 on Wednesday.

A trader changes dollars with naira at a currency exchange store in Lagos, Nigeria, February 12, 2015. REUTERS/Joe Penney

The development is believed to have been caused by the decision of the Central Bank of Nigeria (CBN) to change its foreign exchange (Forex) supply rules.

The CBN, on Monday, announced that it would supply forex to both large and minimal consumers.

ADVERTISEMENT

The naira also gained against the Pound Sterling which traded at 645 a day earlier but slipped to 610 and the Euro which dropped from N537 to N507 at the end of trading.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.ng

Recommended articles

Hardship: Abiodun to begin sale of rice to Ogun residents at 50% discount

Hardship: Abiodun to begin sale of rice to Ogun residents at 50% discount

Labour Party offers Peter Obi 2027 presidential ticket unopposed

Labour Party offers Peter Obi 2027 presidential ticket unopposed

Allow us build seaports, railways to develop the South-East - Ohanaeze tells FG

Allow us build seaports, railways to develop the South-East - Ohanaeze tells FG

UCH Ibadan workers are tired of working in darkness as power outage persists

UCH Ibadan workers are tired of working in darkness as power outage persists

Armed robbery suspect who killed police officer begs govt to have mercy on him

Armed robbery suspect who killed police officer begs govt to have mercy on him

Tinubu enlists Dangote, Elumelu, Rabiu, others in Economic Coordination Council

Tinubu enlists Dangote, Elumelu, Rabiu, others in Economic Coordination Council

Sanwo-Olu doesn't want you to blame govt for current hardship in the country

Sanwo-Olu doesn't want you to blame govt for current hardship in the country

Okuama: Slain officers left behind 3 pregnant widows, 21 orphans – Lagbaja

Okuama: Slain officers left behind 3 pregnant widows, 21 orphans – Lagbaja

Joke Silva describes neglect of Lagos theatres as sad development

Joke Silva describes neglect of Lagos theatres as sad development

Pulse Sports

Nigeria vs Mali: Has Finidi George done enough to land Super Eagles job permanently?

Nigeria vs Mali: Has Finidi George done enough to land Super Eagles job permanently?

I want to emulate Keshi and win the AFCON - Finidi George shares ambitious Super Eagles dream

I want to emulate Keshi and win the AFCON - Finidi George shares ambitious Super Eagles dream

Michelle Alozie: I had to do it because of African referees

Michelle Alozie: I had to do it because of African referees

AC Milan star reveals he was named after Super Eagles legend Tijani Babangida

AC Milan star reveals he was named after Super Eagles legend Tijani Babangida

Give him the job! Super Eagles fans beg NFF to make Finidi George permanent coach after Nigeria's win over Ghana

Give him the job! Super Eagles fans beg NFF to make Finidi George permanent coach after Nigeria's win over Ghana

Super Eagles 2-1 Black Stars: Nigerians praise Iwobi, Lookman, Finidi George after friendly victory against Ghana

Super Eagles 2-1 Black Stars: Nigerians praise Iwobi, Lookman, Finidi George after friendly victory against Ghana

ADVERTISEMENT
ADVERTISEMENT