The Nigerian Naira, on Friday, February 3, remained unchanged at the parallel or black segment of the Nigerian foreign exchange, forex market, trading at N498 to the U.S Dollar
At the official Interbank or Spot FX market, commercial lenders quoted the local currency at 305.25 a dollar, about the level it has traded since August.
The Nigerian currency had traded static at the rate of of N498 for the third consecutive day in the first week of February.
It had started off the week hitting it’s lowest level trading at N500 to the greenback and only recovering slightly to N499 the next day before leaping to N498 in the new month and staying at the same rate as the week ended.
Meanwhile, the Central Bank of Nigeria, CBN, sold about 400 billion naira ($1.27 billion) of Treasury bills on Friday, February 3 to mop up liquidity from the money market.
