Naira remains stable at $/N474 at parallel forex market

Naira remains stable at $/N474 at parallel forex market

The naira was stable at $/N474 at the black market on Wednesday as the Nigerian foreign exchange market continued to experience dollar shortage.

At the Investors and Exporters (I&E) forex window, the local currency was devalued by 0.06 per cent having opened at N387.79, traded high at N392.50, and eventually closed at N389.25.

Investors traded a total of $24.66 million through the I&E window.

The Naira at the official window closed at $/N381.00 unchanged against the previous day’s position.