Forex
Nigerian Naira Holds Steady Against Dollar in NAFEM
The Nigerian Naira has remained relatively stable against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on September 18, trading at N1,331.20/$1.
This is a slight improvement from the previous day's rate of N1,331.28/$1, with a gain of 8 Kobo.
The Naira, however, strengthened against other major currencies, including the Pound Sterling and Euro, trading at N1,771.16/£1 and N1,526.36/€1 respectively.
The Central Bank of Nigeria's (CBN) sales of US Dollars are helping to meet short-term demand, while import demand remains relatively subdued in mid-September.