Naira retains rate against dollar at parallel market

Naira retains rate against dollar at parallel market

- The Naira stayed strong against Dollar at parallel market

- The local currency, however, appreciated against Pound and Euro

- The Naira closed at N362 to a Dollar, N420 to Euro while the Pound traded at N486

The Nigerian Naira on Wednesday, June 20,retained its rate at the parallel market against Dollar.

According to Legit.ng findings, the local currency maintained the same rates of N362 against Dollar, but appreciated against Pound Euro.

Meanwhile on Tuesday, June 19, trading at the Bureaux De Change (BDC) segment saw the naira exchanged at N360 to a dollar, while the Pound Sterling and the Euro closed at N489 and N423, respectively.

Naira retains rate against dollar at parallel market
Naira retains rate against Dollar

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The naira, however, traded at N360.25 to a dollar at the investors’ window, with a total volume of N168.13 million.

The Nigerian currency also closed at N305.85 at the CBN window. Traders said the trading was low due to resumption from the Sallah break.

NAN reports that the naira had remained stable across the foreign exchange market due to the intervention of the CBN.

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

Source: Legit.ng

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