The Naira held steady against the United States Dollar in both the official and informal currency segments.

Data from the Nigerian Foreign Exchange Market showed the local currency trading at about ₦1,331.09 per Dollar during early morning spot trading.

Intra-day figures pointed to a steady trading range. This was supported by consistent foreign exchange liquidity injections and high external reserves, which backed the Central Bank of Nigeria’s interventions.

In the parallel market, street currency operators and Bureau De Change dealers in major commercial centres in Lagos and Abuja quoted buying rates of ₦1,355 to ₦1,365 per Dollar.

Selling rates in the same market ranged from ₦1,375 to ₦1,390 per Dollar. This kept the premium between the official and informal channels narrow.

Market analysts linked the stable spread to subdued speculative activity and steady FX inflows into the domestic market.