- The Naira maintains its strengthen rate against the American Dollar at parallel market
- The local currency however fell slightly against Pound and Euro
- The Nigerian currency trades at N362, N502 and N444 against the Dollar, Pound Sterling and Euro respectively
The Nigerian Naira on Monday, March 12, maintains it’s rate against the American Dollar which it traded at as at Friday, March 9. The local currency maintained the rate N362 per US dollar at the parallel market but weakened against Pound and Euro.
Naira maintains strength against Dollar NAIJ.com previously reported that the Nigerian external reserves has hit $46 billion, the Central Bank of Nigeria has said.
The foreign reserves berthed at a mark close to $50 billion at the close of business on Friday, March 9. PAY
Vanguard reports that the figures obtained from the apex bank showed that the reserves grew by $3.2 billion between February and March 2018.
The external reserves which stood at $39.33 billion rose to $42.8 billion in February before it hit the $46 billion mark.
Speaking on the rise, the acting director of corporate communication for CBN, Isaac Okoroafor, said accretion of monies to the nation’s reserves is hugely responsible for the growth.
