NAIRA TRADES AT ₦1,373/$ IN OFFICIAL MARKET
By: Safiya Abdulrahim Dabban
The naira traded at ₦1,373.25 against the US dollar in the official Nigerian Foreign Exchange Market on June 2, according to data released by the Central Bank of Nigeria.
Market activity showed the local currency maintaining a relatively stable position within the ₦1,370 range, while rates at the parallel market hovered between ₦1,395 and ₦1,405 per dollar.
Analysts say the naira’s performance in the coming days will depend largely on foreign exchange inflows, import demand and overall market conditions.