FX market opens with Naira stability across markets

Consolidate the foreign exchange market (1)

The foreign exchange market should be consolidated so that the same rate of exchange would rule across the markets

The foreign exchange market opened the week with Naira indicating stability across various market segments. Nigeria’s currency maintained stability as traders are selling the dollar at N455, the same as on Friday at the black market.

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Also at the Investors and Exporters (I&E) forex window, the market opened with an indicative rate of N387.10k per dollar the same rate as on Friday.

Last week, Naira gained N0.58k as the dollar was sold at N386.00k on Friday from N386.58k traded on Thursday at the I&E forex window, data from FMDQ revealed.