The Nigerian Naira on Wednesday, June 21, at the parallel segment of the Nigerian foreign exchange market, traded at the rate of N364 against the United States of American Dollar.
Against the British Pound Sterling, the local currency also stayed firm at N465 at the black market and against the European single currency, Euro, the naira exchanged at the rate of N410.
The healthy run at the forex market came as a result of the consistent intervention of the Central Bank of Nigeria, CBN, which has helped the Naira gain its footing against, the greenback, Pound and Euro.
At the beginning of the week, the apex bank pumped the sum of $195m into the Spot FX segment of the forex market to meet the requests of customers in the various segments of the market.
This development helped the value of the Naira at the blackmarket as the naira scooped gained three points to move up to N364 per Dollar from the rate of N367, which it traded for all through last week at the parallel market.
