The Naira on Monday gained 50k to exchange at N305.00 to a dollar at the interbank market, the News Agency of Nigeria (NAN) reports.
The Nigerian currency had closed at N305.50 for most part of last week at the interbank market.
However, naira remained stable at the parallel market, closing at N465 to a dollar, while Pound Sterling and Euro exchanged at N565 and N490, respectively.
Trading at the Bureau De Change (BDC) window saw the naira closing at N390 to a dollar, CBN controlled rate, while Pound Sterling and Euro traded at N562 and N500 respectively. Currency traders said that uneasy calm had prevailed at the market due to its raid by officials of the Department of State Security (DSS) in some parts of the country. NAN reports that in spite of the raid, the naira had remained pretty stable.
Meanwhile, stakeholders expect the Monetary Policy Committee (MPC) meeting being held in Abuja to come up with policies that would lead to a greater flexibility of the exchange rate. PLACE YOUR TEXT ADVERT BELOW:>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> How I Made Me =N=2.5 MILLION In 7 Days from 2 Common Product I Imported and how you can do the same. Click HERE FOR FREE Details right now Warning To Men: This 3 Foods Is Killing Your Erection. Click Here To Know Them Secret Fruits that increased my Manhood and makes me last 55 minutes+ all time - Click here to get it Warning: Got Arthritis? 3 Simple Ways To Get Cured And Be Permanently Free From Joint Pains. Click Here To See Them REVEALED!! Reduce Your Blood Sugar Level And Reverse Diabetics Within A Short Period Of Time. Click Here To See How MIDNIGHT,Pressed Mr Kilanko Suddenly Couldn't Urinate. Shrink your Enlarged Prostrate Here! Click Here Now