The Nigerian Online Newspaper

Naira remains stable at parallel market

The Naira on Wednesday remained stable at the parallel market, exchanging between N365 and N367 to the dollar.
The Pound Sterling and the Euro traded at N476 and N436, respectively.
At the Bureau De Change window, the Naira was sold at N363 to the dollar, while the Pound Sterling and the Euro closed at N476 and N436, respectively.
Trading at the investors’ window saw the Naira closed at N360.22, while the CBN rate closed at N306 to the dollar.
Traders at the market said the scarcity of the dollar still remained a challenge.
The Central Bank of Nigeria has earlier given an assurance that its robust foreign exchange policy and its series of interventions at the FOREX market would engender exchange rate stability.
The apex bank express confidence that with improved economic fundamentals, it believes its policies will support a fledging industrial climate for local production.
The News Agency of Nigeria reports that the CBN had injected over 3.6 billion dollars in series of interventions at the FOREX market.