Naira Expected To Stabilise Against Dollar Next week

The Naira is expected to be steady against the dollar in the next week to Thursday, Reuters reported, quoting trading sources.

According to the report, Nigeria’s naira should be stable, supported by central bank interventions in the face of steady dollar demand.

The naira was quoted at 1,445 to the U.S. dollar on the official market on Thursday, compared with 1,447 a week earlier.

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The currency was changing hands at 1,475 to the dollar in street trading.

“I expect the naira to trade within a band of 1,443-1,450 naira next week,” one trader said.

“I don’t expect any drastic move from where it is. We have seen demand, but the central bank has been intervening.”