Naira maintains N1,300 exchange rate against USD

The Naira has maintained a N1,300 exchange rate mark against the US Dollar at the close of the official foreign exchange market for the Easter Holidays on Thursday.

FMDQ data showed that the Naira exchanged for N1,309.39 per USD on Thursday compared to the previous day of N1,300.43.

This comes as USD transactions on Thursday stood at $857.78 million turnover, according to FMDQ data.

Similarly, the Naira sustained an exchange rate of N1300 and 1320 per USD at the parallel market.

The development came amid the Central Bank of Nigeria’s raising minimum capital requirements for banks.