– Naira has appreciated to N364 per Dollar but crashed to N424 against the Euro
– The local currency also closed the day at N475 against the Pound at parallel market
The Nigerian Naira on Wednesday, July 26, strengthened again against the American Dollar at the parallel market.
The local currency has gained one point to close the day at N364/$1, few hours after it moved up to N365/$1.
However, the Naira dropped four points to close the day at N424 against the Euro but stayed unchanged at N475 against the Pound Sterling.
Toay’s rate. Photo: ZENITHBLOG.com
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At the Bureau De Change (BDC) window, the Naira was sold at N362 to the Dollar, while the Pound Sterling and the Euro were sold at N477 and N419 respectively.
The Naira closed at N369.50 against the Dollar at the investors’ window, while it also closed at N305.75 at the interbank market.
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Traders at the market attributed the further appreciation of the Naira to the outcome of the Monetary Policy Committee (MPC) meeting of the CBN.
The MPC meeting was held on Monday, July 24 and Tuesday, July 25 to discuss interest rate, cash reserve (CSR) and liquidity ratio.
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