The Nigerian Naira on Tuesday, February 6, maintained it’s strength against the Unted States of American Dollar at the parallel segment of Nigerian Foregn Exchange Market.
The local currency exchanged at the rate of N364 against the American Dollar at the black Market on Tuesday.
Aganst the Brtsh Pound Sterlng, the Nigerian currency traded at the rate of N508 and dropped slightly against European Sngle Currency, Euro, to trade at the rate of N447
Meanwhile the Central Bank of Nigeria, CBN, has pumped 210 million dollars into the inter-bank Foreign Exchange Market to meet customers’ requests in various segments of the market.
Acting Director, Corporate Communications of the apex bank, Mr Isaac Okorafor, who gave a breakdown of the amount in Abuja on Monday, said that the wholesale segment of the market received 100 million dollars, while Small and Medium Enterprises (SMEs) segment received 55 million dollars.
He said customers requiring foreign exchange for tuition fees, medical payments and Basic Travel Allowance (BTA) among others, were also allocated 55 million dollars.
He reassured the public that the bank would continue to intervene in the interbank forex market to boost liquidity.
