- The Naira maintains its strengthen rate against the American Dollar at parallel market
- The local currency, however, fell slightly against Euro
- The Nigerian currency trades at N361, N480 and N419 against the Dollar, Pound Sterling and Euro respectively
The Nigerian Naira on Wednesday, July 11, maintained it’s rate against the American Dollar but slipped against the Euro.
The local currency maintained the rate N361 per US dollar and N480 against Pound Sterling, but weakened against Euro at the parallel market.
Meanwhile, Central Bank of Nigeria (CBN), on Tuesday, July 10, injected 210 million dollars into the inter-bank Foreign Exchange market to meet customers’ requests in various segments of the market.
The CBN acting director, corporate communications, Isaac Okoroafor said that the CBN offered 100 million dollars to authorised dealers in the wholesale segment of the market.
Okoroafor said also that the Small and Medium Enterprises (SMEs) segment got 55 million dollars while another 55 million dollars was allocated for tuition fees, medical payments and Basic Travel Allowance (BTA).
He said that the apex bank would continue to intervene in the interbank foreign exchange market, in line with its pledge to sustain liquidity in the market and maintain stability.
