Nigeria’s embattled currency, the Naira on Monday stemmed its slide in the foreign exchange market, appreciating against both the US dollar and British pounds sterling at the official and parallel markets.

A survey conducted by the News Agency of Nigeria (NAN) in Lagos showed that the Naira against the Dollar was traded at between N191 and N190 respectively at both markets.

Naira: some respite on forex market

Naira gained N2 to the Dollar from the N193 and N192 it sold on Dec. 24.

The Naira was sold at N191 to the Dollar at the Bureau De Change (BDCs) from N193 on Dec. 24.

It was traded at N190 to the Dollar at the black market since last week.

The Naira, however, remained stable at N168 in the Central Bank of Nigeria (CBN) since Dec.24.

It equally remained firm against the Pound Sterling at the official market of N260.36k.

The Naira also appreciated against the Pound Sterling at the BDCs, trading at N292, or a gain of N2 from the N294 it sold on Dec. 24.

The Naira was also sold at N293 to the Pound Sterling at the parallel market since Dec.24.

At the official market, it was sold against the Euro at N204.48k, while exchanging against the Euro at the BDCs for N235 compared with N238 or gain of N3 from Dec. 24.

Naira also sold at N233 to one Euro at the parallel market as against the N235 traded on Dec. 24.