Naira Remains Stable at Both Official and Parallel Market at N1339/$1, N1,520/$1 As Transaction Activity Surges

Naira Remains Stable at Both Official and Parallel Market at N1339/$1, N1,520/$1 As Transaction Activity Surges

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The naira on Tuesday in a rare occurrence remained unchanged at the official and parallel markets.

At the Nigerian Autonomous Foreign Exchange Market (NAFEX) window, the naira closed on Tuesday at N1,339.33/$1, the same as Monday’s closing rate.

While also at the parallel market, naira remained unchanged also closing on Tuesday at N1,520/$1.

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However, transaction volumes also saw a significant increase as the daily turnover increased by 81.58 percent, reaching $328.32 million on Tuesday compared to $180.80 million recorded on Monday.  Additionally, the highest spot rate observed on Tuesday was N1,506, while the lowest spot rate recorded was N1,150.

Nume Ekeghe

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