Naira stays stable across FX markets as dollar sales surge by 94.46%.
The naira remained stable across FX markets on Tuesday, despite a 94.46% surge in dollar sales at the official market. The naira closed at N1,476.95, slightly down from N1,476.12 on Monday at the Nigerian Autonomous Foreign Exchange Market (NAFEM), per FMDQ Securities Exchange Limited. Dollar sales jumped to $236.99 million from $121.87 million the previous day. The intraday high remained at N1,500 per dollar, while the intraday low fell to N1,362.15 from N1,250. On the parallel market, the naira traded between N1,480 and N1,500.
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