22 Jul 2017

Naira ends trading week strongly against dollar

The Naira on Friday maintained its strength against the dollar in the parallel market.

The local currency closed at N365.

Naira also exchanged at N470 against Pound Sterling and N420 against Euro at the parallel market.

Central Bank of Nigeria (CBN) had intervened in the market on Monday with supply of 195 million dollars.

100 million dollars was offered through the wholesale segment.

Small and Medium Enterprises (SMEs) segment received 50 million dollars, while tuition fees, medical payments and Basic Travel Allowance (BTA), among others, got 45 million dollars.

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