Naira continues to maintain its stability against Dollar at 367/$1

Naira continues to maintain its stability against Dollar at 367/$1 ••

Naira appreciates against Dollar

The Nigerian Naira on Wednesday, July 19, retained its strengthened rate at the parallel market against Dollar, Pound and Euro.

According to findings, the local currency maintained the same rates of N367 against Dollar, N420 against Euro and N473 against Pound at the parallel market as it was yesterday, July 18.

The acting Director, Corporate Communications of the CBN, Mr Isaac Okorafor, in a statement, said that the CBN was pleased with the state of the market, and assured that the bank would continue to intervene in order to sustain liquidity in the market and guarantee international value of the naira.

He said the apex bank remained determined to achieve its objective of rates convergence, “hence the unrelenting injection of intervention funds into the foreign exchange market’’.

Okorafor expressed optimism that the naira would sustain its run against the dollar and other major currencies around the world, considering the level of transparency in the market.

Do you think N1 can ever become $1 again at Forex Market? Watch Nigerians respond to this question.


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