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Naira maintains rate against Dollar and Euro, appreciates against Pound

by 11/10/2017 12:24:00 0 comments 1 Views

- The local currency stays unchanged against Dollar and Euro for the third time this week at parallel market

- The local currency however appreciated against Pound

- The Naira closed at N363 to a Dollar, while the Pound and the Euro traded at N475 and N425, respectively

The Nigerian Naira on Wednesday, October 11, retained its strengthened rate at the parallel market against Dollar and Euro.

According to findings, the local currency maintained the same rates of N363 against Dollar, N425 against Euro at the parallel market as it was yesterday, October 10, but appreciated against the Pound to N475.

Naira maintains N363 strength against Dollar at parallel market

Naira maintains strength against Dollar

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Meanwhile in continuation of its effort to sustain foreign exchange (forex) liquidity in the country, the Central Bank of Nigeria (CBN) on last week Tuesday, October 4, intervened in the interbank forex market to the tune of $195 million.

Figures released by the Bank showed that it offered the total sum of $100 million to the wholesale segment, while the small and medium scale enterprises (SMEs) segment received the sum of $50 million.

Can 1 Naira ever become 1 US dollar again on the Forex market? - on TV.

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