The naira has recently remained stable in the parallel market, exchanging at N385 to the dollar.
Despite the stability of the Nigerian currency, $457.3 million was yesterday, injected by the Central Bank of Nigeria (CBN) into different segments of the foreign exchange market.
Parallel market surveys carried out yesterday indicated that the exchange rate in the parallel market which closed last week at N385 per dollar still closed at the same rate yesterday.
The recent stability of the Naira is being largely attributed to a potential CBN dollar sale of $20,000 each of the over 3000 bureaux de change (BDCs) today.
Also the Investors and Exporters (I&E) foreign exchange window remained at N383 per dollar, maintaining its stability as well.