The Nigerian Naira on Wednesday, January 17, retained its strength against the United States of America Dollar at the parallel segment of the Nigerian Foreign Exchange market.
The local currency sustained the same rate from previous day, trading at N364 against the greenback, but crashed against the European Single Currency, Euro by 6 points to close at N440, and lost 4 points against the British Pound Sterling, to close at N492.
At the Bureau De Change window, the naira exchanged at N362 to the dollar, while the Pound Sterling and the Euro closed at N492 and N440, respectively. The local currency traded at the rate of N360.56 against the dollar at the investors’ window.
Meanwhile the Central Bank of Nigeria, CBN, has pumped another tranche of 210 million dollars into the inter-bank Foreign Exchange Market.
Also, the Central Bank of Nigeria (CBN) on Friday intervened in the inter-bank Foreign Exchange Market with 262.5 million dollars.
Data obtained from the CBN in Abuja revealed that the sum was in favour of the agricultural, airlines, petroleum products and raw materials and machinery sectors.