The naira recorded a slight appreciation in its exchange rate with the dollar at the parallel market yesterday, closing at N359.5/$ as against the N360/$ it exchanged at the close of trading on Tuesday.
Similarly, the nation’s currency exchanged at N361.06/$, compared to the N361.18/$ it closed the previous day at the Investors’ and Exporters’ (I&E) window even as it closed at N360/$ at the Bureau De Change (BDC) segment.
Meanwhile, the Central Bank of Nigeria (CBN), also injected the sum of $210 million, to meet customers’ demands in various segments of the foreign exchange market.
An analysis of the sum shared in the various segments of the market showed that $100 million was supplied to authorised dealers in the wholesale segment, while the Small and Medium Scale Enterprises’ (SMEs’) customers got $55 million. Customers needing forex for invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA), among others, were also allocated the sum of $55 million.
It would be recalled that the apex bank had last Thursday intervened in the forex market to the tune of $343.06 million to meet the demands in the retail segment of the market.
