By Modupe Gbadeyanka
The Nigerian currency appreciated against the Euro at the parallel segment of the foreign exchange market on Monday.
At the close of transactions yesterday, the local currency chalked up N4 against the European Union’s currency to exchange as N421 compared with N425 it was traded last Friday.
The gain came as the Central Bank of Nigeria (CBN) released the sum of $195 million into the forex market yesterday.
The intervention helped in sustaining the steady supply of forex in the market, easing the pressure on the Naira.
At the close of business, the local currency remained unchanged against the two other major foreign currencies, the Dollar and the Pound Sterling.
While the Dollar was exchanged at N363, the Pound was sold for N475 at the black market on Monday.
Adedapo Adesanya