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The naira had last strengthened under
the $1,515/$ mark on March 6, closing at 1,512.30/$ on the NFEM.
On the parallel market, it also appreciated, reaching $1,538/$,
an increase of 0.02%.
Analysts say that the strength of the naira has was supported by improved liquidity and sustained inflows of dollars. The Central Bank of Nigeria has also entered the market at an amount of approximately 15 billion dollars.
AIICO Capital said that the foreign exchange market has
opened the week on a calm note, with balanced flows maintaining the
stable rates around $1,527 to $1,533/N and no intervention from CBN was not needed.
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