Naira maintains strength against foreign currencies at parallel market

- Naira maintains rate against Dollar, Pound and Euro at parallel market

- The local currency closed at N362 to a Dollar, while the Pound and the Euro traded at N505 and N442, respectively

The Nigerian Naira on Wednesday, May 2, maintained its appreciated rate at the parallel market against Dollar, Pound and Euro.

According to Legit.ng findings, the local currency maintained the same rates of N362 against Dollar, N505 per Pound rate and N442 per Euro as it closed on Tuesday, May 1.

The Central Bank of Nigeria (CBN) continues to intervene in the interbank foreign exchange market, in line with its determination to sustain liquidity in the market and maintain stability.

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At the Bureau De Change (BDC) window, the Naira exchanged at N362 to the dollar, while the Pound Sterling and the Euro closed N504 and N436, respectively.

Trading at the investors’ window saw the Naira close at N360.67, while it closed at the CBN window N305.7.

Legit.ng previously reported that Naira on Monday, April 30, appreciated at the parallel market against Dollar, Pound and Euro.

The currency strengthened to N362 per US dollar as against the N363 rate it was on Friday, April 27.

Can N1 ever become $1 again at Forex Market? Watch Nigerians respond to this question on Legit.ng TV.

Source: Legit.ng