The Nigerian Naira on Wednesday, June 13, maintained the same rate against the United States of America Dollar, at the parallel segment of the Nigerian Foreign Exchange market.
The local currency exchanged at the rate of N362 against the greenback. Against the British Pound Sterling, the naira appreciated to N488 and closed at the rate of N425 against the European Single Currency, Euro.
Meanwhile the Central Bank of Nigeria, CBN, on Tuesday, June 12, injected 210 million dollars to meet customers’ requests in various segments of the foreign exchange market.
The acting director, corporate communications, CBN, Isaac Okorafor in a statement in Abuja said the bank offered 100 million dollars to authorised dealers in the wholesale segment of the market.
Okorafor said 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), among others.
He restated the bank’s commitment to continue to intervene in the interbank foreign exchange market, in line with its pledge to sustain liquidity in the market and maintain stability.
He said that the CBN would sustain its strategic management of the foreign exchange market with a view to reducing the country’s import bills and halt depletion of its foreign reserves.
