The Naira on Wednesday maintained its exchange rate at N322 to a dollar.
It also remained firm against the two other major currecies, the pound sterling which exchanged at N448 and the \euro which sold for N355.
However, at the official interbank rate, N197, was exchange for a dollar.
Some traders at the parallel market told the huhu reporter in Lagos that the high exchange rate was discouraging to customers.
They complained that the market had remained dull due to low patronage.
Meanwhile, the apex bank, in its last Monetary Policy Committee (MPC) meeting, said that excess liquidity in the banking system was contributing to the current pressure in the foreign exchange market.
The bank said that the pressure was impacting negatively on consumer prices.
Normal.dotm
0
0
1
119
682
huhuonline
5
1
837
12.0
0
false
18 pt
18 pt
0
0
false
false
false
/* Style Definitions */
table.MsoNormalTable
{mso-style-name:”Table Normal”;
mso-tstyle-rowband-size:0;
mso-tstyle-colband-size:0;
mso-style-noshow:yes;
mso-style-parent:””;
mso-padding-alt:0in 5.4pt 0in 5.4pt;
mso-para-margin:0in;
mso-para-margin-bottom:.0001pt;
mso-pagination:widow-orphan;
font-size:12.0pt;
font-family:”Times New Roman”;
mso-ascii-font-family:Cambria;
mso-ascii-theme-font:minor-latin;
mso-hansi-font-family:Cambria;
mso-hansi-theme-font:minor-latin;}
