Dollar falls to N490 on CBN action

The Nigerian naira on Thursday recovered to N490 per dollar, as the fresh policy action from the Central Bank of Nigeria finds its foothold.

A bureau de change operator, who spoke to newsmen in Lagos, said the naira recovered drastically from 515 per dollar on Wednesday, to 490 on Thursday morning.

Ibrahim Baba, a trader in Abuja, the nation’s capital, said the local currency is trading 498 to the greenback at the Federal Capital Territory (FCT).

More to follow…