Naira remained stable on Tuesday, exchanging at N464.67 to the dollar at the Investors and Exporters’ window.
The local currency did not change from its value on Monday, while the open indicative rate closed at N464.96 to the dollar on Tuesday.
An exchange rate of N467 to the dollar was the highest rate recorded within the day’s trading before it settled at N464.67.
Also, the naira sold for as low as N460 to the dollar within the day’s trading.
Data obtained from the FMDQ OTC showed that a total of 186.02 million dollars was traded at the official Investors and Exporters’ window on Tuesday.
Meanwhile, data obtained from the Central Bank of Nigeria (CBN) showed pegged naira to dollar rate at N462.28.
BUSINESS METRICS understands that the exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N748 and sell at N750 as of the time of filing this report.
