The Nigerian Naira, for the third straight day in the week, inched higher against the United States of America Dollar, at the parallel segment of the Nigerian Foreign Exchange Market, on Thursday, June 7.
The local currency at the black market advanced further by 70k to an impressive two-year high of N360.50 against the greenback following the lower sell rate of the dollar to the nation’s Bureau De Change Operators, BDCs by the Central Bank of Nigeria, CBN.
At the official Interbank segment of the forex market, the naira appreciated by 0.02% to N305.95/$ from its previous rate of N306.00/$.
The Nigerian Currency at the I&E FX rate however depreciated by 0.05% to N360.95/$. Rates in the transfer market however remained stable at N364.00/$.
The local currency had on Wednesday gained one point at the black market, to close at the rate of N361 against the greenback.
