Naira stabilises after N366/dollar at parallel market

The Naira stabilised on Tuesday in the parallel market as it exchange at N366 to a dollar, it maintained the same rate with which it closed on Monday.
Pound Sterling and the Euro closed at N477 and N428, respectively, just as the Central Bank of Nigeria (CBN) injected $195 million into the interbank market.
Acting Director, Corporate Communications Department, CBN, Mr. Isaac Okorafor, made this known in a statement on Tuesday.
According to Okorafor, “In the wholesale segment of the inter-bank Foreign Exchange market, the CBN auctioned $100m and also intervened in the Small and Medium Enterprises (SMEs) and invisible segments, with the sum of $50 million and $45m respectively.”
He used the opportunity to encourage those who genuinely require foreign exchange for their transactions to approach their banks, noting that the banks had enough forex to meet the demands for foreign exchange within the time frame stipulated by the CBN.