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/$.