The Nigerian Naira remained stable across the official Nigerian Foreign Exchange Market (NFEM) and the parallel market as trading began for the week. At the official NFEM window, the dollar traded at about ₦1,327.08, supported by robust liquidity inflows and increased turnover following Central Bank of Nigeria policy adjustments. Market participants noted that strong foreign reserves have helped anchor official rates within a tight band. In the parallel market, the dollar exchanged between ₦1,370 and ₦1,390, with traders reporting steady demand for physical cash and a relatively narrow premium over the official rate.
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