Naira appreciates, stocks fall after MPR shift

The Nigerian naira appreciated on Wednesday, while stocks plunged on the Nigerian stock exchange (NSE) following the outcome of the Central Bank of Nigeria (CBN) monetary policy committee meeting.

The naira strengthened slightly at the parallel market to trade at 321 to the dollar, N1 stronger than its position yesterday.

“We now buy the naira at 318, so we sell between 320 and 321 as against 32