Reno Omokri, a chieftain of the Peoples Democratic, Party, PDP, has expressed joy over the continuous appreciation of the Nigerian Naira after it almost exchanged for N2,000/dollar a few weeks ago.
On Saturday, Google listed Dollar to Naira exchange rate as ₦1,247 to $1 for the first time since the appreciation began.
While expressing excitement, Reno said: “Happening Right Now: Google lists Dollar to Naira as ₦1,247 to $1. This is the first time that Google has listed the Naira to Dollar exchange rate as under ₦1,250. #GrowNairaBuyNaija is working. And the more you and I continue patronising made-in-Nigeria goods and services, the more the Naira will increase in value.”
Data from the official trading platform of the FMDQ revealed that the Naira strengthened by N25.09 or 1.78 per cent, compared to last month.
Also, the total turnover increased to $245.58 million last Tuesday, up from $222.15 million recorded on Monday.
The News Agency of Nigeria (NAN) reports that the Central Bank of Nigeria (CBN) had, earlier on Tuesday at its 294th Monetary Policy Committee (MPC), raised Monetary Policy Rate (MPR) by 200 basis points from 22.75 per cent to 24.75 per cent.
Meanwhile, on Thursday, the naira exchanged flat with the US dollar at the parallel market, commonly referred to as black market.
The dollar, which was quoted at between N1,250 and N1,260 on Wednesday, remained the same on Thursday at the black market.
The current exchange rate on the black market is stronger than the rate on the official market. CONTINUE READING
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