The Naira, on Thursday, February 2, remained static at the parallel or black segment of the Nigerian forex market, trading at N498 to a dollar.
The local currency also exchanged for N615 to the British Pound Sterling and traded at N525 against the Euro.
Meanwhile, the Naira also remained stable at the interbank or the official Spot FX segment of the currency market as it traded at N305.25 to a dollar.
Trading at the Bureau De Change (BDC) window saw the Naira exchanged at N399 to a dollar, which is the Central Bank of Nigeria, CBN, controlled rate, while the Pound Sterling and the Euro closed at N616 and N527 respectively.
The naira is posed to become steady in the coming week as the apex bank sold dollar to ease liquidity squeeze.
The local currency is expected to trade within a recent range after the Central Bank of Nigeria (CBN) released around $660 million to quench greenback shortages in Africa’s biggest economy.
The naira was quoted at 498 to the dollar on the parallel market, the same as last week, while banks quoted the currency at 314.50/dollar on the official interbank window.
