The local currency stays unchanged against Dollar, Pound – The Naira closed at N370 to a Dollar, while the Pound and the Euro traded at N477 and N433, respectively – The Central Bank of Nigeria (CBN) had earlier resolved to ensure that there was sustained liquidity in the market
The Nigerian Naira on Tuesday, August 22, slides against the United States of America Dollar at the parallel segment of the Nigerian Foreign Exchange Market.
The local currency slumped to the rate of N370 against the greenback, dropping two points from the previous rate of N368 at the black market.
Against the British Pound Sterling, the Nigerian Currency, exchanged at the rate of N477 at the parallel market and closed at the rate of N433 against the European Single Currency, Euro.
Meanwhile the Central Bank of Nigeria (CBN) on Monday, August 21, offered 195 million dollars in three segments of the Foreign Exchange Market (Forex) to boost liquidity in the operation.
Mr Isaac Okorafor, CBN’s Acting Director, Corporate Communications, said that in the wholesale segment of the inter-bank Foreign Exchange market, it auctioned 100 million dollars and also intervened in the Small and Medium Enterprises (SMEs) with 50 million dollars.
