- The local currency, however, appreciated against Pound
- The Naira closed at N360 to a Dollar, N428 to Euro while the Pound traded at N498
The Nigerian Naira on Wednesday, July 4, retained its appreciated rate at the parallel market against Dollar.
The local currency maintained the same rates of N360 against Dollar and N471 to Euro as it was on Tuesday, July 3, but appreciated against the Pound to N478.
The Central Bank of Nigeria (CBN) on Tuesday injected 210 million dollars into the inter-bank Foreign Exchange Market to sustain liquidity.
The CBN’s acting director, corporate communications, Isaac Okorafor, said in Abuja that the apex bank offered 100 million dollars to authorised dealers at the wholesale segment of the market.
He said the Small and Medium Enterprises segment received 55 million dollars, while customers requiring foreign currencies for tuition, medical payments and travels were allocated 55 million dollars.
Okorafor said the CBN would continue to intervene in the inter-bank foreign exchange market in line with its desire to sustain liquidity in the market and maintain stability.
