Naira retains its rate against Dollar, Pound, Euro at parallel market

Naira retains its rate against Dollar, Pound, Euro at parallel market

- Naira continues on an impressive note at parallel market

- The local currency has retained the N367/$1 rate against the Dollar at parallel market

- This comes even as the CBN injected more dollars at the foreign exchange market

The Nigerian Naira on Wednesday, July 19, retained its strengthened rate at the parallel market against Dollar, Pound and Euro.

According to Legit.ng findings, the local currency maintained the same rates of N367 against Dollar, N420 against Euro and N473 against Pound at the parallel market as it was yesterday, July 18.

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Naira appreciates against Dollar

Today's Naira rate Photo: Legit.ng

The acting Director, Corporate Communications of the CBN, Mr Isaac Okorafor, in a statement, said that the CBN was pleased with the state of the market, and assured that the bank would continue to intervene in order to sustain liquidity in the market and guarantee international value of the naira.

He said the apex bank remained determined to achieve its objective of rates convergence, “hence the unrelenting injection of intervention funds into the foreign exchange market’’.

Okorafor expressed optimism that the naira would sustain its run against the dollar and other major currencies around the world, considering the level of transparency in the market.

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Source: Legit.ng News

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