…Trades at 1,610/$ in black market
The naira is expected to maintain its steady momentum as the Central Bank of Nigeria (CBN) continues to roll out measures to ensure stability, but a substantial strengthening of the currency may be unlikely given the global uncertainty.
According to a weekly report by Cordros, a Lagos-based consultancy, the currency appreciated by 1.1 percent week/week to N1,585.00/$ last week, mostly supported by the CBN’s sale of $190.40 million to the market.