The Nigerian currency, Naira, on Monday, April 16, maintained strength at the parallel segment of the Nigerian Foreign Exchange Market, exchanging at the rate of N363 aganst the United States of America Dollar.
Against the British Pound Sterling, the local currency closed at the rate of N510 and exchanged at the rate N445 against the European Single Currency, Euro.
while the Pound traded at N510 The Nigerian Naira on Monday, April 16, retained its strengthened rate at the parallel market against Dollar. According to NAIJ.com findings, the local currency maintained the same rates of N363 against Dollar, as it was last week, but slipped against Euro.
Meanwhile, the Central Bank of Nigeria, CBN, had mopped up naira liquidity to curb speculation on the currency,
Furthermore, the Monetary Policy Committee, MPC, had maintained interest rates, leaving it st same level it has retained for over a year to boost currency and curb inflation.
