Naira stabilises against dollar at N347
(Nigeria) The Naira on Wednesday remained stable against the dollar at the parallel market.
The currency exchanged at N347 to the dollar, maintaining
its Monday rate.
Also the Pound Sterling and the Euro closed at N470 and N375
respectively.
Meanwhile the official interbank rate closed on a positive
note at N282.32 to the dollar.
Traders at the market remarked that the greenback was still
scarce in spite of the intervention of the apex bank at the interbank segment
of the market.
The first Naira- Settled OTC FX Futures trade has been
executed between the Central Bank of Nigeria, CBN and Citi Bank Nig. Ltd on
FMDQ.
This is coming barely three days after the launch of the OTC
FX Futures Market in Lagos.
Meanwhile, the Association of Bureau De Change Operators of
Nigeria, ABCON, rose from a stakeholders meeting with the CBN with a call for
the inclusion of its members in the new forex regime.
The ABCON President, Alhaji Aminu Gwadabe explained that
ABCON was ready to collaborate with the apex bank to ensure a smooth
implementation of the Flexible exchange rate policy.
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