The Nigerian naira maintained a stable band across official and parallel foreign exchange windows Tuesday, supported by regular monetary interventions from the Central Bank of Nigeria.
Data published by the apex bank showed the official exchange rate trading at an average of ₦1,348.94 per U.S. dollar. Buying rates settled at ₦1,347.93 while selling figures hovered around ₦1,346.93.
Across street trading desks in Lagos, parallel market operators quoted the greenback higher. Informal traders bought dollars at ₦1,395 and sold at ₦1,390. The narrow spread between official and street rates points to a steady foreign exchange environment compared to the severe volatility of past quarters.
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