Both the NFEM rate and black-market prices remained largely unchanged Monday as CBN’s recent interventions continue to moderate volatility.
The Naira remained stable against the US Dollar on Monday across both the Nigerian Foreign Exchange Market (NFEM) and the parallel market.
Data from the official window showed the local currency closing at ₦1,449.84 per dollar, mirroring the trend recorded at the tail end of last week.
In the parallel market, the Naira continued to trade at a slight premium compared to the official rate. Currency traders in Lagos and Abuja quoted rates between ₦1,480 and ₦1,490 per dollar, with no major fluctuations reported throughout the day.
Market watchers say the stability reflects the impact of the Central Bank of Nigeria’s ongoing monetary and liquidity management measures, which appear to be helping calm the previously volatile forex market.
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