The Nigerian Naira, on Friday, June 30, sustains a healthy swing against the United States of America Dollar, at the parallel segment of the Nigerian foreign exchange market,
Closing the month of June and the last trading day of the week, the Nigerian currency traded firm at the rate of N368 against the greenback.
Against the British Pound Sterling, the local currency also maintained the same rate of N490 and also exchanged at the rate N410 against the European Single Currency, Euro.
Meanwhile, at the official Spot FX or Interbank market, the Naira closed the week and month, exchanging at the rate N305.9 against the American Dollar.
Following the Naira’s recent stability, the Central Bank of Nigeria, CBN, has expressed optimism that the local currency will gain more ground at the foreign exchange market in the months ahead.
The apex bank assured of further Dollar supply at the foreign exchange market to maintain the convergence of the rates on the official and parallel markets. It would be recalled that the CBN recently sold $20,000 to each of the 3,145 Bureau De Change (BDCs) in continuation of its bi-weekly dollar sales to the Bureau De Change, BDC segment.
