The Nigerian Naira on Wednesday, February 7, retained its strength against the United States of America Dollar at the parallel segment of the Nigerian Foreign Exchange Market.
The local currency remained strong against the greenback at the parallel market closing at the rate of N363 on Wednesday.
The Naira also maintained strength against the British Pound Sterling, exchanging at the rate of N510. Against the European Single Currency, Euro the Naira appreciated to close at the rate of N446.
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.