– 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 NAIJ.com 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
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 NAIJ.com TV.
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