Naira appreciates against Dollar at parallel market

Naira appreciates against Dollar at parallel market

- The Nigerian Naira has appreciated to N360 per Dollar

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

- The Nigerian currency trades at N360, N480 and N418 against the Dollar, Pound Sterling and Euro respectively

The Nigerian Naira on Tuesday, July 17, appreciated at the parallel exchange market sector against Dollar.

According to NAIJ.com findings, it was gathered that the local currency gained one point against the greenback to close the day at N360/$1.

Also, the local currency appreciated to N480 per Pound rate and N418 to Euro.

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Naira maintains rate against dollar at parallel market

Naira appreciates against Dollar

The Naira recently 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.

NAIJ.com previously reported that the Nigerian Naira on Monday, July 16, retained its rate at the parallel market against Dollar.

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.

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

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Source: Naija.ng

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