The Naira has again gone lower against the United States Dollar but stayed but stable against Euro at the parallel market. In the meantime trading at the parallel market force the Nigerian naira to be closed at N361/$1 on Thursday, July 5 –
The Pound Sterling and the Euro closed at N480 and N417 respectively The Nigerian Naira on Thursday, July 5, slipped against the American Dollar at the parallel market.
According to NAIJ.com findings, the local currency dropped one point to close the day at N361/$1 from the previous rate of N360/$1, but maintained same rate of N417 against Euro.
However, the currency slipped to N480 against Pound Sterling. Meanwhile the Central Bank of Nigeria (CBN) on Tuesday, July 3, injected 210 million dollars into the inter-bank Foreign Exchange Market to sustain liquidity. Naira slips to N361 against Dollar
The CBN’s Acting Director, Corporate Communications, Isaac Okorafor, said in Abuja that the apex bank offered 100 million dollars to authorised dealers at the wholesale segment of the market.
He said the Small and Medium Enterprises segment received 55 million dollars, while customers requiring foreign currencies for tuition, medical payments and travels were allocated 55 million dollars.
Okorafor said the CBN would continue to intervene in the inter-bank foreign exchange market in line with its desire to sustain liquidity in the market and maintain stability.