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The naira settled at N2,205/£ against the British pound sterling on the informal market on Sunday.
The Nigerian unofficial FX band has remained between N2,000 and N2,400 to the pound, driven by sustained offshore demand for sterling amid global volatility. Currency traders believe that the direction of the naira depends on foreign capital sentiment.
The Nigerian naira closed at N2,110/£1 in the last trading session at official market down from N2,095/£1 to N2,090/£1 against the British pound. The Nigerian Foreign Exchange Market (NFEM) reported intraday fluctuations between N1,529.75/$1- N1,535/$1.
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