Naira stabilises at N485 per dollar at parallel market

By Abimbola Fashakin, Lagos

The nation’s currency, the Naira on Friday remained stable at the parallel market, exchanging at N485 to a dollar.

The Pound Sterling and the Euro closed at N602 and N515, respectively.

At the interbank market, the Naira also remained stable at N305.50 to a dollar.

Trading at the Bureau De Change (BDC) window saw the Naira sold at N399 to a dollar, CBN controlled rate, while the Pound Sterling and the Euro exchanged at N606 and N515, respectively.

Traders at the market said that the scarcity of dollar persisted, leading to slow activities.

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