The Nigerian Naira stayed relatively stable against the US Dollar in both official and parallel markets. On the official NFEM, the Naira traded around N1,331.09 per Dollar in early morning spot trading, supported by steady FX liquidity injections and elevated external reserves that backed Central Bank of Nigeria interventions. In the parallel market, Bureau De Change dealers in Lagos and Abuja quoted buying rates of N1,355 to N1,365 and selling rates of N1,375 to N1,390 per Dollar, keeping the spread between channels narrow. Analysts attribute the stability to moderated speculative activity and steady FX inflows.
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