– The Naira stayed strong against Dollar at parallel market
– The local currency, however fell against Pound and Euro
– The Naira closed at N363 to a Dollar, N445 to Euro while the Pound traded at N502
The Nigerian Naira on Monday, February 19, retained its strengthened rate at the parallel market against Dollar.
According to NAIJ.com findings, the local currency maintained the same rates of N363 against Dollar, but slipped against Pound and Euro.
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In a previous report by NAIJ.com, Nigeria’s foreign reserves has accrued by $442.8 million or 1.07 per cent rising to $41.54 billion as at February 14, 2018, Leadership reports, quoting latest data on the website of the Central Bank of Nigeria (CBN).
The reserves was said to have crossed $41 billion on February 8, 2018, a level it last achieved in December 2013.
It was reported that analysts project that the reserves will continue to accrue this year, rising to almost $50 billion.
Can N1 ever become $1 again at Forex Market? Watch Nigerians respond to this question on NAIJ.com TV.