De-Change: Naira Records Loss Against Dollar, See Latest Exchange Rate.

By Rowlandgate.

The Nigerian naira yesterday depreciated against dollar at the exchange rate market. However, forex turnover rose by 9.6%, as the Naira’s exchange rate at the NAFEX window appreciated against the dollar to close at N394/$1 during intra-day trading on Thursday, December 17.

This follows new Central Bank of Nigeria guideline barring mobile money operators and payment service providers from accepting diaspora remittances.

De-Change: Naira Records Loss Against Dollar, See Latest Exchange Rate.

However, some operators continue to pay remittances in Naira contrary to CBN’s directive that it should be paid cash in dollars or into the recipient’s domiciliary account. Odogwublog.com

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Nigeria’s foreign exchange market received a boost with the approval of the $1.5billion loan request by the World Bank.