The Naira on Monday, January 16, remained flat at the parallel or black market segment of the Nigerian foreign exchange market trading at N497 to one U.S dollar.
At the parallel market, the local currency firmed up against the British Pounds Sterling closing at N595 against the rate of N597 it traded for on Friday.
However, it weakened against the Euro , exchanging at N517, in contrast to the rate of N515, which it traded for on Friday.
At the Bureau De Change window, the Nigerian currency traded at N399 to a dollar, which is the Central Bank of Nigeria, CBN controlled rate, while the Pound Sterling and the Euro traded at N604 and N522 respectively.
Meanwhile,trading at the official interbank or Spot FX segment of the currency market, the naira slumped further trading at N305.25 to a dollar, from N305 recorded on Friday.
Nonetheless, traders at the market are optimistic that the Naira will see a rebound despite the lingering scarcity of the greenback.
