The Nigerian currency, on Wednesday, December 3, maintained strength against the United States of America Dollar, at the Parallel Segment of the Nigerian Foreign Exchange Market.
Against the greenback, the naira closed at N363, while the British Pound Sterling traded at the rate of N485 to one naira and the Euro traded at N427.
The stability comes as a result of the Central Bank of Nigeria, CBN’s relentless interventions with the injection of forex into the currency market just before the 2017 market year ended.
The naira had closed at N363 against the dollar at the black market on Tuesday, same rate it traded for on the last trading day of 2017.
The local currency, had hovered around 365 against the Greenback for some months, before rising to N364, as the festive period approached and finally closed the year at the rate of N363.
