The Nigerian Naira on Tuesday, October 3, recorded growth against the United States of American Dollar at the parallel segment of the foreign exchange market.
At the black market, the Naira exchanged at the rate of N364 against the greenback. Against the british Pound Sterling, the local currency closed at the rate of N487 and traded at the rate of N427 against the European Single Currency.
Meanwhile, the Central Bank of Nigeria, CBN, on Tuesday, October 3, intervened in the inter-bank Foreign Exchange Market to the tune of $195 million.
Figures released by the Apex Bank showed that it offered the total sum of $100million to the wholesale segment, while the Small and Medium Enterprises (SMEs) segment received the sum of $50 million. The invisibles segment, comprising tuition fees, medical payments and Basic Travel Allowance (BTA), among others, received $45 million.
