Market News
Nigeria Extends Dollar Access as Naira Shows Ongoing Stability - BLOOMBERG
- Bureaux de change can buy up to $25,000 per week through May
- Naira has strengthened on improved confidence, dollar supply
Nigeria’s central bank has extended the dollar access of foreign exchange bureaus by four months, amid improved local liquidity that has contributed to recent naira gains.
Bureaux de change have been allowed to buy as much as $25,000 a week on the official currency market since December, delivering a boost to supply that has helped the naira advance 3% to 1,498.5 per dollar from 1,549 when the program started on Dec. 19.