The naira appreciated against the dollar at the parallel market on Wednesday, exchanging at N359.5 to a dollar, compared to its N360/$ exchange rate 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, and also closed at N360/$ at the Bureau De Change (BDC) segment.
This is even as the Central Bank of Nigeria (CBN) injected the sum of $210 million, to meet customers’ demands in various segments of the foreign exchange market.
Data on 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 received $55 million, the same sum supplied customers in the invisibles segment requiring Forex for tuition fees, medical payments and Basic Travel Allowance (BTA), among others.
The apex bank had last Thursday intervened in the retail segment of the market of the Forex market to the tune of $343.06 million to meet growing demands of customers.