News
Naira retains strength against Euro slips against Dollar, Pound
– The Naira has depreciated against Dollar but stayed unchanged against Euro at parallel market
– Trading at the parallel market saw the Naira close 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.
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.
Bodex F. Hungbo, SPMIIM is a multiple award-winning Nigerian Digital Media Practitioner, Digital Strategist, PR consultant, Brand and Event Expert, Tv Presenter, Tier-A Blogger/Influencer, and a top cobbler in Nigeria.
She has widespread experiences across different professions and skills, which includes experiences in; Marketing, Media, Broadcasting, Brand and Event Management, Administration and Management with prior stints at MTN, NAPIMS-NNPC, GLOBAL FLEET OIL AND GAS, LTV, Silverbird and a host of others
