– Nigerian Naira has appreciated to N363 per Dollar
– The local currency also closed the day at N472 against the Pound at parallel market
– The recent appreciation of the Naira can be attributed to intervention of the CBN at the foreign exchange market
The Nigerian Naira has appreciated at the parallel market after the Central Bank of Nigeria injected another $250 million in continuation of its intervention in the forex market.
According to ZENITHBLOG.com findings on Wednesday, August 30, it was gathered that the local currency gained two points against the greenback to close the day at N366/$1.
However, the Nigerian currency closed the day at N472 and N432 against the Pound Sterling and Euro respectively.
PAY ATTENTION: Read the news on Nigeria’s #1 news app
Naira to Dollar
Recall that the Central Bank of Nigeria (CBN) on Monday, August 28, intervened in the Inter-Bank Foreign Exchange Market to the tune of 250 million dollars.
The acting director, Corporate Communications Department (CBN) Isaac Okorafor, said the apex bank also sold $100 million and uplifted the Small and Medium Enterprises and invisible segments, with $85 million and $65 million respectively.
Do you think N1 can ever become $1 again at Forex Market? Watch Nigerians respond to this question
0naze
No comments:
Post a Comment