The Naira held steady in a range of N482 to N486 to the dollar on the parallel market against N480 to N485 at the end of last week.
Market liquidity has thinned out as Central Bank of Nigeria (CBN’s) policies have restricted Forex inflows into the market in the face of huge appetite for dollars.
On the Investors & Exporters (I&E) window, the currency fell to N412 but recovered since to N408.67. In the absence of any new policy announcements, we expect the Naira to continue in this relatively rare stable mode this week, hovering around N480 to N490 levels on the parallel market and N408 to N420 level on the I&E window.
