Naira Drops 0.04% at I&E to 362.78/$

By Dipo Olowookere

The local currency traded mixed against the Dollar at the various segments of the foreign exchange (forex) market yesterday.

Business Post reports that at the Investors and Exporters (I&E) forex window, the Naira went down slightly by 0.04 percent to settle at N362.78 per Dollar in contrast to N362.64/$ it traded in the previous session.

This was at the total value of transactions recorded at the I&E FX window yesterday stood at $146.49 million executed in 282 deals.

However, at the interbank market, the local currency remained stable at N306.15 to the Dollar, while at the CBN SMIS segment, the Naira also remained unchanged at N357.95 per Dollar.

At the black market, the Naira traded flat, closing at N361 to a Dollar, while the local currency also remained unchanged against the Euro at N416.

However, the Naira appreciated by N1 against the British Pound Sterling at the parallel market to close at N466 against N467 in the previous session.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

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