Trading at the investors’ window saw the naira close at N361.10. The naira exchanged at N305.90, N402.26 and N360.75 against the dollar, Pound Sterling and the Euro, respectively at the CBN window.
The Nigerian currency also traded at N47.74 and N23.2 against the Chinese Yuan and the South African Rand. Currency traders said that the naira was set to appreciate significantly at the parallel market as the Nigeria China swap deal takes effect.
The Nigerian government entered into a 2.4 billion dollars currency swap deal with the People’s Republic of China. The CBN noted that the deal would finance trade and direct investment between China and Nigeria, and maintain financial market stability, among other benefits.
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