Naira records gains in black market despite rate cut

Naira records gains in black market despite rate cut

The naira appreciated slightly in the parallel market, also known as the black market on Wednesday, despite the Central Bank read more Naira records gains in black market despite rate cut

“Naira Strengthens Despite CBN’s Sharp Interest Rate Cut” — Dollar Trades At ₦1,385 Black Market, ₦1,327.78 Official Window

The naira strengthened in both the parallel and official foreign-exchange markets despite the Central Bank of Nigeria’s decision to cut the Monetary Policy Rate by 350 basis points to 23 per cent, as improved dollar liquidity and stronger external reserves continued to provide support for the currency. In the parallel market, popularly known as the […]

Naira gains despite CBN rate cut as reserves climb to $54.7bn

The naira gained N5 in the black market to N1,385 per dollar as the Central Bank of Nigeria cut its benchmark interest rate by 350 basis points to 23%

Naira Strengthens Despite CBN Interest Rate Cut

The Nigerian Naira recorded gains in the parallel market on Wednesday, defying expectations of depreciation following the Central Bank of Nigeria’s decision to reduce the benchmark interest rate.