Nigerian naira seen stable in weekahead

The naira is expected to trade within a range in the coming days as uncertainty over the implementation of the Nigerian central bank's planned new flexible exchange rate policy persists.
The currency retreated to 350 to the dollar on the parallel market on Thursday from 360 a dollar last week.
The naira had weakened shortly after the central bank announced plans for new exchange rate policy, but strengthened when the details of the new policy were delayed.
On the official interbank window, the naira was trading around the peg rate of 197 to the dollar.
"The central bank was still consulting with bank industry players to determine how the new forex policy would work," one senior banker said.