The liquidity boost forced by the Central Bank of Nigeria continues to yield benefits, as the Naira continued its appreciation against the Dollar.
The Naira fell from N500 per dollar on Thursday to N460 on Friday at the parallel market, the News Agency of Nigeria reports.
The Pound Sterling and the Euro have also dropped to N575 and N480 respectively.
If the liquidity is sustained, many expect the dollar to fall back down to below N400.
Part of the CBN’s new policy was the directive given to banks to sell forex to those needing it for school fees and medical fees, and it is positively impacting the situation.
The news is great news to many Nigerians, who are delighted at a ray of hope for the country’s economic problems.