The Nigerian Naira has appreciated marginally against the US Dollar following the Central Bank of Nigeria’s sale of $15.5m to over 1,500 Bureaux de Change operators during the week.
Naira appreciated by 0.4 per cent on Friday afternoon as it exchanged for N277 against the dollar from N278 it traded for previously.
However, the Naira closed at N197 to the dollar at the official interbank window.
Traders at the parallel market expressed concern that in spite of the resumption of forex auction to Bureaux de Change (BDCs) operators, the scarcity of the US Dollar was still exerting pressures on the Naira.
The change in the strength of the Naira against the US Dollar comes after an 0.8% drop in the value of the Naira on Monday.
Market traders were hopeful that the Naira could rebound in 2016 if the central bank continues to enforce its current policies on the foreign exchange market.


Source:
http://www.247nigerianewsupdate.co/2016/01/naira-up-against-usd.html?m=1

Gud move, Nigeria will be great again

Don't get me wrong but what is the diff between 278 and 277?

[size=25pt]Thats not news...mention me when its equal[/size]

Wizprodigy:
Don't get me wrong but what is the diff between 278 and 277?

Dats previously cos it closed friday @197 against dollar

epadomo:


Dats previously cos it closed friday @197 against dollar

but the official value of naira to the dollar is 197 and ever since it has being hovering on that value. Had it being it appreciated to 195 then i might have called it good news.

Wizprodigy:
Don't get me wrong but what is the diff between 278 and 277?

I taya.