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Naira remains at N485 per dollar

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Naira steadied at N485 per dollar on Monday at the black market the same rate it closed on Friday.

However, at the Investors & Exporters (I&E) window of the foreign exchange market data from the FMDQ Security Exchange, where forex is officially traded, showed Naira strengthened.

Naira closed at N408.90 at Monday’s trading session of the I&E window. This represents a N1.10 or 0.27 per cent appreciation from N410 the rate at which it closed at the previous session on Friday last week.

Read also: Naira creeps close, gains against the dollar

During trading on Monday, currency traders who participated in the market on Monday maintained bids at between N390.00k and N412.00k for a dollar.

The I&E window recorded FX turnover declined by 20.67 percent to $50.67 million on Monday from $63.88 million recorded on Friday.

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