The Nigerian Naira on Tuesday, February 7, remained static against the United States dollar at the parallel or black segment of the Nigerian foreign exchange market, to trade at N498 in the black market.
The local currency also maintained the same exchange rate against the British Pound Sterling exchanging at N616 at parallel market. Meanwhile, it firmed up against the Euros it now exchanges at N528 as against the N530 rate of Monday, February 6.
The Naira still trades at N305.25 on the official market, a level that it has remained at since August 2016.
On Monday, February 6, the currency remained unchanged at the parallel or black segment of the foreign exchange market, trading at N498 against the United States dollar.
The local currency also exchanged at N617 against the British Pound Sterling, while trading at N527 against the Euro at the black market.
At the official interbank or spot FX segment of the currency market, the Naira also remained stable exchanging at N305.25 to the greenback
According to traders at the currency market, scarcity of the greenback still lingered despite the recent weekly sale of forex to BDCs by the Central Bank of Nigeria, CBN.
