- The local currency stays unchanged against Dollar and Euro
- The Naira closed at N367 to a Dollar, while the Pound and the Euro traded at N476 and N436, respectively
- The Central Bank of Nigeria (CBN) had earlier resolved to ensure that there was sustained liquidity in the market
The Nigerian Naira on Wednesday, September 13, retained its rate at the parallel market against Dollar, Pound and Euro.
According to NAIJ.com findings, the local currency maintained the same rates of N367 against Dollar, N436 against Euro at the parallel market as it was yesterday, September 12.
Naira maintains strength against Dollar
Earlier this week the Central Bank of Nigeria (CBN) had injected another $250 million into the foreign exchange market, to keep the inter-bank market liquid.
PAY ATTENTION: Read the news on Nigeria’s #1 new app
Details of the fresh funding in Monday’s intervention showed that the wholesale sector got about $100 million, while the Small and Medium Enterprises, SMEs window received a boost of $80 million.
Another allocation of $70 million went to those requiring foreign exchange to address their needs for Business/Personal Travel Allowances, school tuition, medicals, etc.
Do you think N1 can ever become $1 again at Forex Market? Watch Nigerians respond to this question.[embedded content]
About Article Author