The Naira is expected to remain relatively stable at both parallel and interbank segment of the foreign exchange, forex market as the U.S Dollar continues to wane.
The naira has traded steady this week at 485 to the dollar on the parallel market as demand for the greenback soars.
Meanwhile, at the interbank or Spot FX market the Nigerian currency has consistently closed around 305.5 a dollar level since August via the official window.
A currency changer told Reuters: “There should be little pressure in the currency market in the coming days because many businesses are already winding down their operations.”
This year has seen the local currency depreciated the most in its 43-year history, opening at 197 in January at the official market and 265 at the parallel market.
Operatives of the EFCC had visited offices of the foreign exchange market to check activities of illegal currency traders.
