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As the Monetary Policy Committee (MPC) of the Central Bank of Nigeria meets to hold benchmark interest rate at 14%, the Nigerian Naira on Tuesday reportedly traded at N364, The News Agency of Nigeria (NAN) reports.
The MPC left the benchmark interest rate unchanged at 14 per cent, alongside other monetary policy parameters.

The CBN Governor, Mr Godwin Emefiele, said reducing interest rates may reverse the gains achieved in exchange rate stability and inflation rate reduction.

The Pound Sterling and the Euro traded at N492 and N436.
At the Bureau De Change (BDC) window, the Naira was sold at N362 to the dollar, while the Pound Sterling and the Euro traded at N492 and N436.
Trading at the investor’s window saw the Naira closed at N306.05 and sold at N305.8 at the CBN official window.
Traders said the consolidation of the gains recorded in the economy would lead to more stable Naira.
CBN resolved to consolidate on the gains made in post recession economy. (NAN)
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