The Nigerian Naira, on Wednesday, September 27, appreciated against the United States of America Dollar at the parallel segment of the Nigerian Foreign Exchange Market.
Against the British Pound Sterling, the local currency exchanged at the rate of N486 and traded at the rate of N428 against European Single Currency, Euro at the Black Market.
This jump in the value of the naira comes after the Central Bank of Nigeria, CBN, on Monday, September 25, offered a 195 million dollars in three segments of the Forex market to boost liquidity.
The acting Director of Corporate Communications, Mr Isaac Okorafor, in a statement, said it auctioned 100 million dollars at the wholesale Secondary Market Intervention Sales (SMIS) window of the inter-bank Foreign Exchange market.
He said that the apex bank also intervened in the Small and Medium Enterprises (SMEs) and invisible segments, with 50 million dollars and 45 million dollars.
Okorafor reiterated that the Bank’s intervention was to maintain its commitment to sustain liquidity in the market to meet genuine requests as well as deepen flexibility in the foreign exchange market.
