How Naira Fared Against Dollar (July 11)

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Naira To Appreciate As CBN Plans To Pump More Dollar Into Forex Market

How Naira Fared Against Dollar (July 11)

The Nigerian currency Naira on Wednesday, July 11, appreciated marginally against the United States’ Dollar at the parallel market in Lagos, exchanging at N358.50 to the dollar.

It is understood that the local currency was 10 kobo stronger than N358.60 to the dollar traded on Tuesday, July 10, while the Pound Sterling and the Euro closed at N478 and N417.5, respectively.

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At the Bureau De Change (BDC) window, the Naira closed at N360 to the dollar, while the Pound Sterling and the Euro closed at N478 and N417.5, respectively.

Trading at the investors’ window saw the Naira close at N361.87 with a daily turnover of 168.74 million dollars, while the naira closed at N305.75 at the CBN window.

The News Agency of Nigeria (NAN) reports that traders expressed optimism that the naira might appreciate further at the market as the CBN continues to boost liquidity.

Bear in mind that the country’s apex bank on Tuesday injected $210 million into the inter-bank Foreign Exchange market to meet customers’ requests in various segments of the market.

Datboyjerry

Datboyjerry

I am but your herald boy in the art of the pen.. An eccentric Environmental Biologist smouldered in the glorious epiphany of online journalism. If you ever find my article unduly insipid, sue me and i’ll refund you...

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