Naira retains strength against Dollar, Pound and Euro

– The local currency maintains the same rate against Dollar at parallel market

– The local currency also retained its rate against Pound and Euro

– The Naira closed at N361 to a Dollar, N419 to Euro while the Pound traded at N480

The Nigerian Naira on Thursday, July 12, retained its rate at the parallel market against Dollar.

According to findings, the local currency maintained the same rates of N361 against Dollar, N419 to Euro and N480 to Pound as it was on Wednesday, July 11.

The naira has remained stable across the foreign exchange market due to the intervention of the CBN.

Naira maintains strength against Dollar at parallel market

Naira maintains strength against Dollar

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The News Agency of Nigeria (NAN) reports that the Nigerian currency was 10 kobo stronger than N358.60 to the dollar traded on Tuesday, July 10, while the Pound Sterling and the Euro closed at N478 and N417.5, respectively.

At the Bureau De Change (BDC) window, the Naira closed at N360 to the dollar, while the Pound Sterling and the Euro closed at N478 and N417.5, respectively.

Trading at the investors’ window saw the Naira close at N361.87 with a daily turnover of 168.74 million dollars, while the naira closed at N305.75 at the CBN window.

Traders expressed optimism that the naira might appreciate further at the market as the CBN continues to boost liquidity.

Can 1 Naira ever become 1 US dollar again on the Forex market? – on TV.

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About Article Author

Chuka (Webby) Aniemeka
Chuka (Webby) Aniemeka

Chuka is an experienced certified web developer with an extensive background in computer science and 18+ years in web design & development. His previous experience ranges from redesigning existing website to solving complex technical problems with object-oriented programming. Very experienced with Microsoft SQL Server, PHP and advanced JavaScript. He loves to travel and watch movies.

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