The naira remained stable against the dollar on Thursday, closing at N1,530.62/$1, nearly unchanged from Wednesday’s rate of N1,530.52/$1.
According to data from the Nigerian Foreign Exchange Market (NFEM), the naira traded between N1,545/$1 and N1,526.17/$1, narrowing the day’s exchange rate gap from N45/$1 on Wednesday to N19/$1 on Thursday.
In the parallel market, however, the naira weakened by 0.31% to N1,580/$1, down from N1,575/$1 the previous day.
Against the British pound, it strengthened slightly to N2,010/£1 from N2,015/£1, while it fell 0.30% against the euro to N1,680/€1 from N1,675/€1.
Despite demand pressure, the naira’s stability in the official market shows the Central Bank of Nigeria’s resilient efforts to strengthen the currency.
