Naira Closes Flat N315/$ At Spot FX Market

The Naira on Wednesday, December 7, closed flat at the interbank or spot FX market, trading for N315 to the U.S dollar, while the pound went for N401.

At the parallel market, the Nigerian currency stayed unchanged exchanging at N485 to the U.S dollar, while the naira traded at N600 to the British Pound Sterling and traded for N510 against the Euro at the parallel market.

 

The unimpressive performance of the currency has lingered amid efforts by the CBN and stakeholders in the Forex market to accelerate  recovery.

Meanwhile, at the Bureau De Change window, the Naira closed at N399 to a dollar, CBN controlled rate, while the British Pound Sterling and the Euro traded at N606 and N512, respectively.

According to traders at the market, shortage of the green back has continued to take its toll on the performance of the Naira.

 

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