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Naira maintains strength against Dollar at parallel market

Naira maintains strength against Dollar at parallel market

- The Nigerian Naira maintains the same rate against Dollar at parallel market

- The local currency also retains its rate against Pound and Euro

- The Naira closed at N360 to a Dollar, N420 to Euro while the Pound traded at N480

The Nigerian Naira on Wednesday, July 25, retained its rate at the parallel market against Dollar.

According to Legit.ng findings, the local currency maintained the same rates of N360 against Dollar, N420 to Euro and N480 to Pound as it was on Tuesday, July 24.

Meanwhile, the Naira on Monday, July 23, remained stable at the parallel market in Lagos exchanging at N358 to the dollar.

Naira maintains strength against Dollar at parallel market

Naira maintains strength against Dollar

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The News Agency of Nigeria (NAN) reports that the Nigerian currency had exchanged at same rate on July 20, while the Pound Sterling and the Euro closed at N480 and N418 respectively.

At the Bureau De Change (BDC) window, the Naira was sold at N360 to the dollar, while the Pound Sterling and the Euro closed at NN480 and N418 respectively.

Trading at the investor’ window saw the Naira close at N362 to the dollar, while it closed at N305.80 to the dollar at the Central Bank of Nigeria (CBN) window.

NAN reports that since the CBN began its aggressive interventions at the foreign exchange market, the Naira had remained stable at the parallel market.

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

Source: Legit.ng

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