The naira remained
stable on Monday at the parallel market, ahead of the Central Bank of Nigeria
(CBN) monetary policy committee (MPC) decisions on the economy.
The Nigerian currency,
according to NAN, maintained N378 to the dollar at the close of trading on
Monday afternoon, keeping same value as at Friday.
Also, the naira traded at
N495 to the pound sterling, but weakened further against the euro, exchanging
for N415, from N407 posted on Friday at the bureau de change (BDC) Segment of
the market.
The naira continued a
downward slope at the interbank segment of the market, hitting a spot rate of
N309.84 to the dollar from about N300 posted on Friday.
Currency traders
continued to rain counter accusations against dollar scarcity as explanation
for the week performance of the Nigerian currency.
They said that activities
at the market was slow, as industry players watched keenly in anticipation of
the outcome of the monetary policy committee (MPC) meeting of the CBN that was
underway in Abuja.
No comments:
Post a Comment