Naira Depreciates To 390 Against The Dollar
The Naira, on Thursday, depreciated slightly against the dollar at the parallel market.
The Nigerian currency lost two points to close at N390 to the dollar, while the Pound Sterling and the Euro traded at N495 and N415, respectively.
Meanwhile, the Central Bank of Nigeria (CBN) again injected100 million dollars to authorised dealers as its intervention to stabilise the foreign exchange market.
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Isaac Okorafor, Acting Director of the Corporate Communications Department of CBN, disclosed this in statement on Thursday.
Okorafor, however, said that no intervention was made in the retail window in Thursday’s auction.
He expressed that the bank will continued its weekly sale of foreign exchange to the Bureau de Change (BDC) segment to meet the needs of low-end users.
He also urged all concerned to put the Nigerian economy first, adding that the CBN was determined to guarantee the international value of the naira.
