Naira Slides At Official Window As CBN, Bankers' Committee Look To Sell Forex Online

The naira slipped against the dollar at the official Investors and Exporters (I&E) window of the foreign exchange (FX) market on Thursday, August 12.

The value of the Nigerian currency waned by 27kobo or 0.06 percent at the end of the session to N410.67/$1 from the previous day’s N410.40/$1, data from the FMDQ Securities Exchange indicated.

The naira was pressured as market turnover rose by 14 percent or $18.57 million as transactions worth $150.99 million were carried out at the market window compared with the $132.42 million executed at the preceding session.

However, in the unregulated market, the local currency maintained stability against the Dollar on Thursday as it closed flat at N515/$1.

The Central Bank of Nigeria (CBN) and the Chief Executives of the deposit money banks under the aegis of the Bankers Committee, announced on Thursday that foreign exchange for Personal Travel Allowance (PTA), Business Travel Allowance (BTA), school fees and medicals would now be sold online.