The Nigerian currency Naira on Tuesday, June 26, weakened marginally against the dollar at the parallel market in Lagos, losing 50 kobo to exchange at N360 to the dollar, weaker than N359.5 traded on Monday.
The Pound Sterling and the Euro closed at N480 and N420, respectively.
At the Bureau De Change (BDC) window, the naira was sold at N360 to the dollar, while the Pound Sterling and the Euro closed at N480 and N420, respectively.
Trading at the investor’ window saw the naira close at N361. 13, with a transaction of N252.92 million, while the naira traded at N305.80 at the CBN window.
Traders at the market said though the Naira lost 50 kobo to the dollar, it was still trading within the N360 band approved officially for banks and BDCs.
Meanwhile, the Central Bank of Nigeria (CBN) yesterday injected 210 million dollars into the foreign exchange market to meet customers’ requests in various segments.
According to Isaac Okorafor, CBN acting Director, Corporate Communications, 100 million dollars was allotted to authorised dealers in the wholesale segment of the market.
He also said the Small and Medium Enterprises (SMEs) segment got 55 million dollars.
Okorafor notes that according to the bank’s figures, customers requesting foreign exchange for invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA), among others, are also allocated 55 million dollars.
Source: New feed2