The naira on Monday continued its appreciation across the foreign exchange (FX) markets as the Central Bank of Nigeria (CBN) sold dollars at N1,251 to the Bureau of De Change (BDC) operators. The CBN in February 2024 promised to sell $20,000 weekly to BDCs at N1,301. A circular from the CBN indicated that the apex bank directed the BDCs to sell to eligible customers at a rate not exceeding 1.5 percent above the purchase price. The summary of the forex auction showed that the naira appreciated by 1.64 percent as the dollar was quoted at N1,408.04 on Monday, stronger than N1,431.49 quoted on Friday at the Nigerian Autonomous Foreign Exchange Market (NFEM). Data from the FMDQ showed that the intraday high closed at N1,442 per dollar on Monday, stronger than N1,468/$1 closed at on Friday. The intraday low closed flat at N1,300 per dollar on Monday as against N1,301 closed on Friday at NAFEM. Source: Business Daily