The Naira maintained a steady appreciation against the United States dollar on Thursday, gaining N18 to close 1,382/$ at the official market.
This is coming on the strength of recent interventions by the Central Bank of Nigeria (CBN).
The naira gain came a day after the local currency recorded major gains at both the official and parallel foreign exchange markets. It closed at the parallel market at N1,400/dollar on Wednesday.
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The summary of the FX trading auction revealed that naira appreciated by 1.3 percent following increased dollar supply at the Nigerian Autonomous Foreign Exchange Market, according to data from the FMDQ Securities Exchange Limited.
The intraday high closed at N1,598 per dollar on Thursday, stronger than N1,620 it closed at on Wednesday. Also, the intraday low strengthened to N1,300/$ on the same day, stronger than N1,350/$1 closed on the previous day.
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The dollar supplied by FX market players increased to $288.47, an increase of $2 or 7.46 percent from $268.29 million recorded on Wednesday from $195.13 million at NAFEM.
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