Naira extends stability at major forex market

The Naira on Tuesday continued to extend its stability against the dollar at all the major segments of the forex market, the News Agency of Nigeria reports.
At the parallel market, the Naira exchanged at N498 to a dollar, while the Pound Sterling and the Euro traded at NN615 and N525 respectively.
Trading at the Bureau De Change window saw the Naira exchange at N399 to a dollar, which is the Central Bank of Nigeria controlled rate, while the Pound Sterling and the Euro closed at N616 and N527 respectively.
The Naira also remained stable at the interbank market as it traded at N305.25 to a dollar.
Alhaji Aminu Gwadabe, the President, Association of Bureau De Change Operators of Nigeria, said the increase in the nation’s external reserves and the global fall in the dollar contributed in the Naira stability.
Gwadabe said that ABCON had also embarked on a sensitisation campaign to enable its members operate by the rules.