The Naira on Tuesday appreciated against the dollar at the parallel market.
The Nigerian currency gained N1 to exchange at N364 to the dollar, stronger than N365 posted on Friday, while the Pound Sterling and the Euro closed at N470 and N430.
Trading at the Bureau De Change window saw the Naira closing at N362 to the dollar, while the Pound Sterling and the Euro traded at N470 and N430.
At the investors’ window, the Naira was sold at N360.39 to the dollar, while it exchanged at N305.8 to the dollar at the interbank market.
Just before the Sallah break, the CBN injected $297 million into the Retail Secondary Market Intervention Sales (SMIS) segment of the foreign exchange market, raising the total intervention for last week to the sum of $547 million.
Acting Director for Corporate Communications Department, Isaac Okorafor, disclosed that CBN was resolute in its determination to intervene in the forex market with the aim of uplifting the naira exchange rate, boosting liquidity in the forex market, and ensuring timely execution and settlement for eligible transactions.
He also expressed confidence that the interventions will continue to guarantee stability in the market and ensure availability to individuals and business concerns with genuine demand for forex transactions.
