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Naira extends stability at official market

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The currency stayed strong too at the black 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.

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