Naira Gains 0.09% at I&E to Settle at N362.78/$

By Modupe Gbadeyanka

The Nigerian currency recorded a slight appreciation on Thursday at the Investors and Exporters (I&E) segment of the foreign exchange market.

Business Post reports that at the close of business yesterday, the Naira appreciated by 0.09 percent against the Dollar at the market window to close at N362.78/$ in contrast to N363.10/$ it traded the previous day.

Also, the total value of transactions at the I&E forex segment went up as a total of $850.96 million was traded in 303 deals on Thursday compared with the total of $341.57 million exchanged on Wednesday in 340 deals.

At the parallel market yesterday, the Naira depreciated by N1 to settle at N360 to the Dollar.

But at the interbank market, the local currency remained stable against the Dollar, closing at N306.25/$.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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