The Nigerian Naira on Thursday, May 10, bounced back against the United States of America Dollar, at the parallel segment of the Nigerian Foreign Exchange Market.
The local currency closed at N362 against the greenback at the black market. Against the British Pound Sterling, the naira exchanged at the rate of N500 and closed at the rate of N430 against the European Single Currency, Euro.
Meanwhile, the Central Bank of Nigeria, CBN, on Tuesday, May 8, supported the inter-bank foreign exchange market with another 210 million dollars.
The apex bank’s acting Director, Corporate Communications, Isaac Okorafor, in a statement said that the apex bank offered 100 million dollars to authorised dealers in the wholesale segment of the market.
He added that the Small and Medium Scale Enterprises (SMEs) segment received 55 million dollars, while 55 million dollars was apportioned to invisibles such as tuition fees, medical payments and Basic Travel Allowance.
