By Dipo Olowookere
The local currency opened bearish at the first trading day of the week on Monday, going down by 0.02 percent at both the interbank and Investors and Exporters segments.
Business Post reports that the Naira closed at N306.55 against the Dollar yesterday versus the N306.50/$ it was exchanged in the previous session at the interbank window of the foreign exchange (forex) market.
At the I&E segment of the market, the local settled at N364.09 to a Dollar against the N364.02 it was previously transacted.
Data obtained from FMDQ revealed that the total value of transactions recorded increased yesterday by 45.65 percent to $244.69 million executed in 275 deals in contrast to the $168 million traded in 388 deals last Friday.
It was observed that on Monday, the value of the Naira to the Dollar at the SMIS segment remained unchanged at N362.52/$.
Also, the local currency stayed flat at the parallel market, closing yesterday at N362 to a Dollar at the market segment.
The Naira did not also change against the Euro and the Pound Sterling at the black market, quoting at N416 and N475 respectively.
more recommended stories
MPC May Delay Hike in Rates Until January 2019—FSDH
By Dipo Olowookere Ahead of the.
WePay Revolutionises e-Commerce in Nigeria With Attractive Prices, Services
By Modupe Gbadeyanka The newest entrant.
Money Market Rates Inch Higher as T-Bills Trade Flat
By Modupe Gbadeyanka On Monday, the.
Stock Market Gains N60b amid Low Volume
By Modupe Gbadeyanka The first day.