The naira on Wednesday appreciated against the dollar at the
parallel market, exchanging at N363 to the dollar from the N366 posted on
Tuesday.
The pound sterling and the Euro closed at N477 and N428 to
the naira, respectively.
At the Bureau De Change window, the local currency was
traded at N363 to the dollar, while the pound sterling and the Euro closed at
N477 and N428, respectively.
Trading at the investors’ window saw the naira closing at
N367.50 to the dollar.
On Monday, the Central Bank of Nigeria (CBN) injected $195
million into the interbank market.
Acting Director, Corporate Communications Department, CBN,
Isaac Okoroafor, made the announcement.
He said, “In the wholesale segment of the inter-bank Foreign
Exchange market, the CBN auctioned $100m and also intervened in the Small and
Medium Enterprises (SMEs) and invisible segments, with the sum of $50 million
and $45m respectively.”
Okorafor encouraged those who genuinely required foreign
exchange for their transactions to approach their banks, noting that the banks
had enough forex to meet the demands for foreign exchange within the time frame
stipulated by the CBN
By Wale Odunsi
