Naira Appreciates against Dollar after Sallah Holiday

By Adedapo Adesanya

Trading resumed after the Sallah break on Wednesday, August 14, 2019 with the Naira appreciating against the US Dollar by 22 Kobo to trade at N363.22/$, from N363.44/$ at the Investors and Exporters segment of the foreign exchange market.

Total traded volume at the investors window went down by 62 percent to $229 million.

At the Central Bank’s Interbank segment, the Naira traded at N306.90 to the US Dollar, indicating no difference from the last trading day on Friday.

Same was the story for the local currency at the parallel market as the Naira remained fixed at N360/USD.

The Naira, however, depreciated against the British Pound Sterling by N1 to trade at N446/£ as against N445/£ from Friday.

The Naira remained static against the Euro to trade at N398/€ at the end of the trading hour on Wednesday.