The Nigerian currency, on Wednesday, May 9, depreciated against the United States of America Dollar at the Parallel Segment of the Nigerian Foreign Exchange Market.
The Naira on Wednesday, shed one point to close the day at N363 from N362 against the greenback at the black market.
Against the British Pound Sterling, the local currency remained at the same rate of N500 and also closed at the same rate of N430 against the European Single Currency, Euro.
Meanwhile, the Central Bank of Nigeria, CBN, on Tuesday, May 8, pumped another tranche of $210 million at the inter-bank foreign exchange market.
The apex bank’s acting Director, Corporate Communications, Isaac Okorafor, in a statement that the CBN offered 100 million dollars to authorized dealers in the wholesale segment of the market.
He added that the Small and Medium Scale Enterprises (SMEs) segment received 55 million dollars, while 55 million dollars was apportioned to invisibles such as tuition fees, medical payments and Basic Travel Allowance.
