Naira maintains strength against Dollar at parallel market

Naira maintains strength against Dollar at parallel market

- The Naira stayed strong against Dollar at parallel market

- The local currency, however, appreciated against Euro

- The Naira closed at N360 to a Dollar, N418 to Euro while the Pound traded at N480

The Nigerian Naira on Thursday, July 26, retained its strengthened rate at the parallel market against Dollar.

According to NAIJ.com findings, the local currency maintained the same rates of N360 against Dollar, N480 against Pound as it was yesterday, July 25, but appreciated against Euro.

Meanwhile the Naira on Wednesday, July 25, gained marginally against the dollar at the parallel market in Lagos, the News Agency of Nigeria (NAN) reports.

READ ALSO: Why I attended APC senators’ meeting with President Buhari - Shehu Sani

The Nigerian currency gained 50 kobo to close at N358, stronger than N358.5 traded on Tuesday, July 24, while the Pound Sterling and the Euro closed at N480 and N418.5 respectively.

Naira maintains strength against Dollar at parallel market

Naira maintains strength against Dollar

At the Bureau De Change (BDC) window, the naira closed at N360 to the dollar, while the Pound Sterling and the Euro closed at N480 and N418.5 respectively.

The naira, however, appreciated at the investors’ window, closing at N361.45, stronger than N361.68 traded on Tuesday, while it was sold at N305.90 at the Central Bank of Nigeria official window.

Meanwhile, Godwin Emefiele, CBN Governor, said that Nigeria performed very well among emerging markets in Africa.

PAY ATTENTION: Read the news on Nigeria’s #1 new app

Emefiele in an interaction with newsmen at the end of the Monetary Policy Committee (MPC) meeting in Abuja, added that the foreign exchange market had remained stable.

According to him, the apex bank had enough buffers to defend the naira.

Can N1 ever become $1 again at Forex Market? Watch Nigerians respond to this question on NAIJ.com TV.

Subscribe to watch new videos

Source: Naija.ng

Related news
Bukola Saraki is a very dangerous person - Presidency warns

Bukola Saraki is a very dangerous person - Presidency warns

Bukola Saraki is a very dangerous person - Presidency warns
NAIJ.com
Mailfire view pixel