The Naira has held steady at an exchange rate of N1,300 against the US Dollar as the official foreign exchange market closed for the Easter Holidays on Thursday. According to data from FMDQ, the Naira was trading at N1,309.39 per USD, slightly up from the previous day’s rate of N1,300.43. The total turnover for USD transactions on Thursday was $857.78 million.
In the parallel market, the Naira also maintained its exchange rate, trading between N1300 and N1320 per USD. This stability comes amidst the Central Bank of Nigeria’s decision to increase the minimum capital requirements for banks.
Overall, the Naira’s performance against the US Dollar remains a key indicator of Nigeria’s economic health. Stay tuned for more updates on this developing story.
