US Dollar scarcity: Naira remains N270 at BDCs

US Dollar scarcity: Naira remains N270 at BDCs

Monday, December 21, 2015 7:21 pm


The Naira on Monday continued to exchange at N270 to the dollar amidst expectations that the apex bank would inject 90 million dollars to stimulate the parallel market.

Last Friday, the Nigerian currency  rebounded after weeks of record low at the market, exchanging for N270 to the dollar at the parallel market. It went as high as N280 before settling at N270.

At the official interbank window, the Naira exchanged for N197 to the dollar.

Traders at the market were hopeful that the Naira would experience some stability after the Central Bank of Nigeria said it had stimulated the market with 90 million dollars.

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