Naira extends stability at official market

Naira maintained stability against the U.S. dollar at the official market on Tuesday, extending the currency’s stable run to three days on a stretch at the spot market.securities exchange windows where forex is officially traded showed that the local unit closed at N415.10 to a dollar again at the close of business Tuesday, the same rate the currency had traded in the past three sessions simultaneously.

Foreign exchange turnover depreciated by 54.81 per cent with $62.53 million recorded at the spot market segment against the $138.37 million posted at the close of business on Monday. “We are not smiling at all, I am losing money seriously,” a dealer who asked not to be mentioned told PREMIUM TIMES.

I hope it is for the better this time around.

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