Naira Stabilises At N490 To Dollar Despite Fears (See Details)

The Naira on Tuesday stabilised at N490 to a dollar at the parallel market in spite of speculations that it would depreciate to N500 to a dollar by the end of 2016, the News Agency of Nigeria (NAN) reports.

The Pound Sterling and the Euro also closed at N585 and N505 respectively.

At the Bureau De Change (BDC) window, the dollar exchanged at N399, CBN controlled rate, while the Pound Sterling and the Euro traded at N598 and N510, respectively.

Trading at the interbank market saw the dollar closed at N305.

Traders at the market said that Forex scarcity was still having its toll on the market.

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By padi on Tuesday 3 January 2017