By Adedapo Adesanya
The Naira closed flat against the United States Dollar at N1,370.19/$1 in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Friday, July 3.
The local currency appreciated against the British Pound by N2.29 to settle at N1,829.88/£1, compared with the previous day’s N1,832.17/£1. It depreciated marginally against the Euro by 4 Kobo, closing at N1,568.32/€1 versus Thursday’s N1,568.28/€1.
At the parallel market, the Naira remained stable against the US Dollar at N1,390/$1, while maintaining the same level at the GTBank forex desk at N1,832/$1.
Market conditions stabilized following the Central Bank of Nigeria’s modest foreign exchange intervention, which enhanced liquidity and supported active trading. The slight improvement came after reduced pressure from half-year profit-taking, coupled with reinforced policy signals from the central bank.
During the trading session, transactions totaled $70.430 million across 82 interbank deals, representing a decrease from the previous day’s $85.517 million.
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