Naira appreciates against Dollar, falls slightly against Pound

Naira appreciates against Dollar, falls slightly against Pound

- The Naira has gained strength against the American Dollar and Euro at parallel market

- The local currency however crashed against Pond

- The Nigerian currency trades at N364, N485 and N427 against the Dollar, Pound Sterling and Euro respectively

The Nigerian Naira on Tuesday, October 3, appreciated against the American Dollar and Euro at the parallel market but crashed against Pound.

According to NAIJ.com findings, the local currency has strengthened to N364 per US dollar as against the N365 rate it was on Monday, October 2.

The Naira also appreciated to N427 against the Euro from the previous rate of 430.

Naira appreciates against Dollar, Euro, falls against Pound

Naira appreciates against Dollar

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The Central Bank of Nigeria (CBN) on Monday, September 25, 2017, boosted the forex market by offering a total of $195 million in three segments of the market.

In the wholesale Secondary Market Intervention Sales (SMIS), of the inter-bank Foreign Exchange.

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

Source: Naij.com

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