Naira Static At N305/$ At Spot FX Market

The Naira, on Friday, January 6, remained stable at the official interbank or spot FX market, trading at N305.00 against the dollar.
The previous day, the local currency remained stable at the interbank window as it exchanged for N305.00 to the greenback.
 Meanwhile, on Thursday, the Naira at the black or parallel segment of the currency market lost ground against the Dollar.

The Naira shed t three points to the greenback as it closed at N493 to a dollar, against N490 it traded on Wednesday, January 4. Against, the British Pound Sterling, the Naira traded at N595 and exchanged for N506 against the Euro.

At the Bureau De Change (BDC) window of the forex market, the local currency traded at N399 to a dollar, the Central Bank of Nigeria, CBN, controlled rate, while Pound Sterling and the Euro closed at N598 and N510 respectively.
 Traders at the nation’s foreign exchange, forex, market said that liquidity glitch is still affecting activities in the market.

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