Naira closes at 385/dollar.

Naira closes at 385/dollar.

Naira closes at 385/dollar. Punch Online

The naira closed flat at 385 against the United States dollar on the parallel market on Wednesday, the same rate it closed on Tuesday.

This came two days after the Central Bank of Nigeria injected $457.3m into various segments of the forex market.

The central bank has continued to supply into the foreign exchange market.  Read more

CBN releases list of 36 items valid for access to forex.  Vanguard Online

The Central Bank of Nigeria yesterday released list of 36 items valid for access to foreign exchange in the foreign exchange market.

In a circular to all banks and the general public yesterday the CBN said that the list of the 36 items valid was released to clarify misconceptions about details of the 41 items banned from accessing dollars in the foreign exchange market.

Titled: “Clarification on items valid for foreign exchange in the Nigerian Foreign Exchange market”, and signed by the Director, Trade and Exchange Department, CBN, Mr. W.D Gotring, the circular stated: “Following misconceptions and enquiries across the market, the is to clarify to the authorised dealers, Nigerian Customs Service and the general public that the following items with their HS codes remain ‘Valid for foreign exchange’.” Meanwhile the naira remained stable at N385 per dollar in the parallel market due to lull in demand and increased supply via CBN dollar sales to bureaux de change (BDCs).  Read more

All-Share Index Appreciates 1.05% as Bulls Retain Hold on Market. Thisday Online

Trading on the Nigerian bourse closed positive Wednesday as the bulls retained their hold on the market. After surging to a record high last week, the market had resumed this week with a decline on Monday on profit taking.

However, the bulls returned on Tuesday, pushing up the benchmark index (NSE All-Share Index) by 035 per cent.

The bull run was maintained Wednesday as the index rose 1.05 per cent to close higher at 27,900.44, while market capitalisation added N100.5 billion to close at N9.645 trillion. A total of 25 stocks appreciated compared with 13 that declined in value.  Read more