Naira remains at N485 per dollar

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.

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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