The Naira on Monday, November 21, scooped 50k to exchange at N305.00 against the dollar at the interbank or Spot FX market. The local currency had closed at N305.50 for most part of last week at the interbank market.
Meanwhile, the Nigerian Currency remained stable at the parallel market, closing at N465 to a dollar, while Pound Sterling and Euro exchanged at N565 and N490, respectively.
However, at the the Bureau De Change, BDC, segment of the foreign exchange market, the naira closed at N390 to a dollar, which is the Central Bank of Nigeria, CBN, controlled rate, while Pound Sterling and Euro traded at N562 and N500 respectively.
According to currency traders, the current calm at the market is as a result of the anxiety which stemmed from the raid on the market by officials of the Department of State Security, DSS, in some parts of the country, NAN reports.
