Naira remains N322 to a dollar

The Naira on Wednesday maintained its exchange rate at N322 to a dollar.

It also remained firm against the two other major currencies, the pound sterling which exchanged at N448 and the euro which sold for N355.

However, at the official interbank rate, N 197, was exchange for a dollar.

Some traders at the parallel market in Lagos south west Nigeria said that the high exchange rate was discouraging to customers.

They complained that the market had remained dull due to low patronage.

Meanwhile, the apex bank, in its last Monetary Policy Committee (MPC) meeting, said that excess liquidity in the banking system was contributing to the current pressure in the foreign exchange market.

The bank said that the pressure was impacting negatively on consumer prices.