Naira remains stable at n485 at parallel market

It's great to hear that the Naira has remained stable at N485 at the parallel market!

The parallel market, also known as the black market, is a unofficial market where individuals trade currencies outside of the official exchange rate set by the Central Bank of Nigeria (CBN). The stability of the Naira at N485 in the parallel market suggests that there may be a sense of calm in the foreign exchange market, at least for now.

However, it's important to note that the parallel market is often subject to fluctuations and volatility, and the Naira's value can change rapidly due to various factors such as global economic trends, oil prices, and government policies.

It's also worth noting that the official exchange rate set by the CBN may differ from the parallel market rate. The official rate is usually lower than the parallel market rate, and it's intended to encourage foreign investment and stabilize the economy.

Overall, the stability of the Naira at N485 in the parallel market is a positive sign, but it's essential to keep a close eye on the currency's performance and be prepared for any potential changes in the market.