Lagos – The Nigerian currency, the Naira, on Friday traded on a stable platform against two major international currencies, the dollar and the pound sterling, as transactions ended for the week.
The dollar and the pound sterling were sold at ₦155.72 and ₦170, respectively, at the official and bureau de change since Jan. 6.
At the black market, the Naira was exchanged for the dollar at ₦170, while the pound sterling went for ₦270.
A breakdown of Friday’s transactions showed that the Naira appreciated marginally by 10k, against the pound, trading at ₦254.08 from ₦254.09 at the official market.
The Naira, however, remained firm against the pound sterling at both the Bureau de Change and the Black market, as it had sold at ₦270 since Jan. 6.
At the official market, the Naira lost 28 kobo, trading at ₦210.48 to the Euro, compared with ₦210.20 on Jan. 6.
Overall, the Naira in the week under review, gained 50k against the Euro, to close at ₦230.50k, compared with the opening figure of ₦230 at the bureau de change market on Friday.
The Naira also remained stable against the Euro at the black market during the week, selling at ₦232 to the Euro.
A currency dealer attributed the Naira’s stability to the low activities recorded after the Xmas and New Year celebration and the scarcity of foreign currencies. (NAN)
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