The Nigerian Naira on Thursday, August 31, closed trading at the parallel segment of the Nigerian foreign exchange on a positive note.
The local currency, at the black market exchanged at the rate of N362 against the greenback, adding one point from the rate of N363, which it traded for on Wednesday, August 30.
The positive performance of the naira at the forex market came as the Central Bank of Nigeria, CBN, on Thursday raised the total intervention for the week to 547 million dollars as against 195 million dollars offered the previous week.
Against the British Pound Sterling, the Nigerian currency exchanged at the rate of N462 and closed at the rate of N428 against the European Single Currency, Euro.
The CBN spokesman, Mr Isaac Okorafor in a statement in Abuja, said that the intervention would uplift the Naira exchange rate, boost liquidity in the forex market and ensure timely execution and settlement of eligible transactions.
Okorafor expressed confidence that the interventions would continue to guarantee stability in the market and ensure availability to individuals and business concerns with genuine demand for Forex transactions.
