The naira seems to be stable at the exchange rate market after depreciating against the dollar over the weekend.
Naira and dollar
On Monday, the naira witnessed no change as it closed N500/$1 at the parallel market on Monday, November 30, 2020.
However, at the NAFEX window the naira remained stable against the dollar to close at N390.25/$1 during intra-day trading on Monday, November 30.
This was the same rate that it exchanged for on Friday, November 26.
This comes as the CBN amended the procedures for receipt of diaspora remittances in an apparent attempt to improve liquidity in the forex market and reduce the disparity between black market and official market.