At the official foreign exchange market’s closure for the Easter Holidays on Thursday, the Naira maintained its exchange rate of N1,300 against the US Dollar.
According to FMDQ data, the Naira was traded at N1,309.39 per USD on Thursday, slightly up from the previous day’s rate of N1,300.43.
Thursday’s USD transactions recorded a turnover of $857.78 million, as reported by FMDQ.
Similarly, the parallel market witnessed the Naira holding steady with exchange rates ranging from N1,300 to N1,320 per USD.
These developments occurred amidst the backdrop of the Central Bank of Nigeria’s increased minimum capital requirements for banks.