The Naira on Tuesday, November 22, remained stable at the interbank or Spot FX market, trading at N305.00 to a dollar.
However, at the parallel market, the naira loss N5 to exchange at N470 to the dollar at the parallel market from N465 it traded on Monday, while the Pound Sterling and the Euro closed at N565 and N495, respectively.
At the Bureau De Change, BDC, segment of the foreign exchange market, the local currency sold for N390, which is the Central Bank of Nigeria, CBN, controlled rate, while the Pound Sterling and the Euro closed at N562 and N500, respectively.
Meanwhile, the Central Bank rose from its bi-monthly Monetary Policy Committee (MPC) meeting, retaining the Monetary Policy Ratio (MPR) at 14 per cent alongside other policy parameters.
The apex bank also ordered security agents to sustain their checks on the activities of illegal foreign exchange operators in order to bring sanity to that segment of the market.
