The Nigerian Naira on Tuesday, June 19, maintained the same rate against the United States of America Dollar at the parallel segment of the Nigerian Foreign Exchange market.
The local currency at the black market exchanged at the rate of N362 against the greenback as the forex market kicked off trading for the new week.
Against the British Pound Sterling, the naira traded at the rate of N488 and closed against the European Single Currency, Euro at the rate of N425.
Meanwhile, currency traders last week said that the naira was set to appreciate significantly in value at the parallel market as the Nigeria China swap deal takes effect.
Federal government had entered into a 2.4 billion dollars currency swap deal with the People’s Republic of China.
The Central Bank of Nigeria, CBN, noted that the deal would finance trade and direct investment between China and Nigeria, and maintain financial market stability, among other benefits.
