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Naira maintains strength against Dollar at parallel market

Naira maintains strength against Dollar at parallel market

- The local currency maintains the same rate against Dollar at parallel market

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

- The Nigerian currency trades at N361, N481 and N420 against the Dollar, Pound Sterling and Euro respectively

The Nigerian Naira on Monday, July 16, retained its rate at the parallel market against Dollar.

According to Legit.ng findings, the local currency maintained the same rates of N361 against Dollar as it was Friday, July 13, but slipped against the Pound to N481 and N420 to Euro.

The naira has remained stable across the foreign exchange market due to the intervention of the CBN.

Last week, traders expressed optimism that the naira might appreciate further at the market as the CBN continues to boost liquidity.

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Naira maintains strength against Dollar at parallel market

Naira maintains strength against Dollar

In a previous report by Legit.ng, the Nigerian Naira on Thursday, July 12, retained its rate at the parallel market against Dollar.

The local currency maintained the same rates of N361 against Dollar, N419 to Euro and N480 to Pound as it was on Wednesday, July 11.

The News Agency of Nigeria (NAN) reports that the Nigerian currency was 10 kobo stronger than N358.60 to the dollar traded on Tuesday, July 10, while the Pound Sterling and the Euro closed at N478 and N417.5, respectively.

Can 1 Naira ever become 1 US dollar again on the Forex market? - on Legit.ng TV.

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Source: Legit.ng

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