Naira, USD Remain Stable Across Markets

By Adedapo Adesanya

It was a relatively fixed situation across the various segments of the foreign exchange (forex) markets at the end of the business on Thursday, July 18, 2019.

At the Investors and Exporters (I&E) segment of the market, the Naira/USD remained relatively unhinged even as the Naira traded at N361.62 to the Dollar from N361.61 of the previous day.

However, the I&E market turnover continued to tumble, this time by 40 percent to $167.12 million from $279 million recorded the previous day.

Just as with the previous trading day at the interbank segment, the Naira/US Dollar remained steadfast at N306.95/$.

This also extended to the parallel market as the local currency remained unchanged as it traded against the American Dollar at N360/$.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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