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Naira appreciates against dollar

Naira on Monday showed strength as it exchanged at N364 to a dollar in the parallel market segment.

The local currency also exchanged for N425 to one Euro and N476 to a Pounds Sterling.

Meanwhile, the Central Bank of Nigeria (CBN) yesterday continued to maintain liquidity in the Foreign Exchange market by injecting 195 million dollars in the the Nigerian inter-bank foreign exchange market.

A statement the acting Director, Corporate Communications Department of the CBN, Isaac Okorafor indicated that the apex Bank would continue to increase liquidity to meet genuine forex demand in the market.

Figures shows that CBN offered a total sum of 100 million dollars to the wholesale segment, while the Small and Medium Enterprises (SMEs) segment received 50 million dollars.

The invisibles segment, comprising tuition fees, medical payments and Basic Travel Allowance (BTA), among others, received 45 million dollars.

The apex bank last week Friday intervened in the retail segment of the inter-bank market with 306.3 million dollars.



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Chuka (Webby) Aniemeka
Chuka (Webby) Aniemeka

Chuka is an experienced certified web developer with an extensive background in computer science and 18+ years in web design &development. His previous experience ranges from redesigning existing website to solving complex technical problems with object-oriented programming. Very experienced with Microsoft SQL Server, PHP and advanced JavaScript. He loves to travel and watch movies.

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