The naira on Tuesday maintained relative stability in the unofficial foreign exchange (FX) market, known as parallel, or black market, despite threats of military invasion against Nigeria by Donald Trump, the United States president.
Traders in major cities said the local currency traded at similar levels as the previous day, showing no significant volatility despite the external pressure.
Checks in parts of Lagos and Abuja showed that the dollar was sold at an average rate of N1,440 on Tuesday, the same as Monday’s rate. In some areas of Abuja, the naira even appreciated slightly, exchanging at N1,450 to the dollar compared to N1,460 quoted the previous day in the black market.