Naira Appreciates by 0.03% at Investors’ Window

By Modupe Gbadeyanka

The Naira put up a good performance at the Investors and Exporters (I&E) segment of the foreign exchange (forex) market on Monday.

Business Post reports that the local currency appreciated by 0.03 percent against the Dollar at the close of transactions yesterday.

The Naira, which was traded at N364.74 per Dollar last Friday, closed at N363.64 to the Dollar at the market segment yesterday.

Data from the FMDQ website revealed that the total value of transactions recorded at the I&E window on Monday was $97.13 million.

A look at the interbank segment of the forex market showed that the local currency was down by 0.02 percent on Monday.

The local currency was quoted at the market segment at N306.65 to a Dollar in contrast to N306.60 per Dollar in the previous session.

At the parallel market segment yesterday, the local currency remained unchanged at N362 to the Dollar.

It Naira also remained unchanged against the British Pound Sterling at N470, while it fell against the Euro by N2 to close at N412.