Naira Stays Unchanged at N368/$ at Black Market

The Nigerian Naira, on Thursday, July 13, remained unchanged at the parallel segment of the foreign exchange market, trading at the same rate as previous days.

The local currency, exchanged at the rate N368 to one United States of America Dollar at the black market segment of the currency market.

Against the British Pound  Sterling, the Naira traded at N472 and exchanged at the rate of N420, against the European Single Currency, Euro.

The apex bank, had on Monday, July 10, injected 142.5 million dollars into the inter-bank foreign exchange, days after intervening in the retail segment of the market with 254.3 million dollars.

Meanwhile transactions in the Nigeria Autonomous Foreign Exchange Market (NAFEX) also known as the Investors and Exporters forex window have reached $3.8 billion since its introduction in April.

Foreign exchange dealers stated that there have been continuous improvements in dollar inflow into the NAFEX from foreign investors due to increased confidence in the window.

 

 

Leave a Reply