Naira Strengthens Against Major World Currencies

Naira Strengthens Against Major World Currencies

Naira Strengthens Against Major World Currencies

 

On Tuesday, July 25, in the parallel market, the Naira kept hold of its strength against the dollar. The Nigerian currency closed at N365.

Moreover, as Naij.com  informs, Naira was exchanged at N420 against Euro and N475 against Pound Sterling.

In the meantime, on July 24, Central Bank of Nigeria brought in over 195 million dollars into a variety of segments of the Inter-bank Foreign Exchange market further on the Monetary Policy Committee verdict.

Acting Director in charge of Corporate Communications, Isaac Okorafor, told the bank proposed 100 million dollars of that sum to the extensive interventions while almost 50 million dollars was proposed to the Small and Medium Enterprises.

Alongside with this, the invisible segment (tuition and medical fees, business and personal travel expenses got 45 million dollars).

“The management of the Central Bank is happy with the naira strengthening against major international currencies,” Isaac Okorafor concluded.

 


Source:  https://dailytimes.ng/money-business/naira-strengthens-major-currencies/