Nigeria: Volatility in Naira Exchange Rate Subsides

15 March 2015

Despite the scarcity of dollars in the nation's deposit money banks last week, prompting them to scramble to meet customers' demand, market survey during the period has however shown that volatility in the local currency was at its barest minimum as the naira remained relatively stable at the interbank market.

For instance, throughout the week, the local currency traded at a range of N199.10/$1 to N199.15/$1 at the interbank and was sold at N197/$1 from the CBN.

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