Naira appreciates against Dollar, Pound and Euro at parallel market

- Nigerian Naira has appreciated to N363 per Dollar

- The local currency also closed the day at N472 against the Pound at parallel market

- The recent appreciation of the Naira can be attributed to intervention of the CBN at the foreign exchange market

The Nigerian Naira has appreciated at the parallel market after the Central Bank of Nigeria injected another $250 million in continuation of its intervention in the forex market.

According to Legit.ng findings on Wednesday, August 30, it was gathered that the local currency gained two points against the greenback to close the day at N366/$1.

However, the Nigerian currency closed the day at N472 and N432 against the Pound Sterling and Euro respectively.

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Recall that the Central Bank of Nigeria (CBN) on Monday, August 28, intervened in the Inter-Bank Foreign Exchange Market to the tune of 250 million dollars.

The acting director, Corporate Communications Department (CBN) Isaac Okorafor, said the apex bank also sold $100 million and uplifted the Small and Medium Enterprises and invisible segments, with $85 million and $65 million respectively.

Do you think N1 can ever become $1 again at Forex Market? Watch Nigerians respond to this question

Source: Legit.ng