Naira stabilizes at N350 to a dollar

Nigeria’s currency, the naira

The Naira on Friday remained stable at the parallel market, exchanging at N350 to the Dollar, the News Agency of Nigeria (NAN) reports.

The Nigerian currency maintained same value since Wednesday.

However, the Naira weakened further against the Pound Sterling as it traded at N500 to the Pound, from N390 since Wednesday, while the Euro remained stable at N385.

Meanwhile, the Central Bank of Nigeria (CBN) was yet to come up with modalities for implementing its flexible exchange policy, as its official rate remained at N197 to a Dollar.

Traders at the market said they were waiting for the new guidelines for the flexible exchange rate policy of the apex bank.

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