The naira Thursday recorded its first gain to close at N1,695/$ at the parallel market after the Monetary Policy Committee (MPC) decision to hike the interest rate by 50 basis points and inject liquidity through bureax de change (BDCs).
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The local currency appreciated by 0.59 per cent from N1,1705 it closed on Wednesday.
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The BDCs which had been starved of forex were supplied $20,000 each on Thursday.
Managing Director, Financial Derivatives Company Limited, Bismarck Rewane, advised the Central Bank of Nigeria (CBN) to sustain dollar interventions to keep the naira gaining against global currencies.
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