Lagos - The Naira held firm at it's current exchange rate of N332 to the dollar, confirming that the currency is still struggling against the leading currencies in the world, Vanguard reports.
The Naira also held firm against the other leading currencies, being currently at N448 to the pound and at N335 to the euro.
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Economists commented that the high exchange rate is discouraging consumers from purchasing goods and that it created instability throughout the economy. Foreign investment could also be affected by serial corruption of government officials which further impacts on the economy and investments.
Additionally, the apex bank said in it's latest Monetary Policy Committee meeting, that excess liquidity in the banking system was putting additional pressure on consumer prices.
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- News 24