Naira strengthens as FX market lifted with $195m liquidity

The Nigerian currency, Naira, on Wednesday, strengthened further against the Euro and the Pound sterling at the parallel market, as the official Foreign Exchange (Forex) Market lifted earlier in the week with an injection of $195 million forex supply by the Central Bank of Nigeria (CBN). 

The local currency, had recorded more gains over the Euro since the beginning of this week, but was seen at 420, the same rate it traded on Tuesday, however, appreciated against the Pound to close at 473, compared to 475 traded the previous day. Although, it maintained 363 selling rate per US Dollar at the parallel market. 

- Daily Times