Naira extends stability at official foreign exchange market

Naira strengthened further against the dollar at the Investors’ and Exporters’ window.

The local currency had remained constant for three successive days, exchanging at N464.67 to the dollar Wednesday.

The naira did not change from its value on Tuesday, while the open indicative rate closed at N464.79 to the dollar.

An exchange rate of N476 to the dollar was the highest rate recorded within the day’s trading before it settled at N464.67.

The naira sold for as low as 460 to the dollar within the day’s trading.

At the end of Wednesday, 140.31 million dollars was traded at the official Investors and Exporters window.

Meanwhile, the Dollar to Naira black market exchange rate is between N750 and N780, with an average of N761.67 on Wednesday.