By Dipo Olowookere
The local currency performed well on Tuesday at the Investors and Exporters (I&E) segment of the foreign exchange (forex) market.
According to data from the FMDQ website, the Naira gained 0.15 percent against the US Dollar on a day the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) retained the benchmark interest rate at 14 percent.
The local currency, which was quoted at N364.28/$ the previous day, closed yesterday at N363.72/$ after appreciating by 56 kobo.
Business Post gathered that the value of total transactions at the I&E FX window on Tuesday was $264.04 million executed in 390 deals.
A look at other segment of the forex market yesterday showed stability in the exchange of the Naira to the Dollar.
At the interbank market, the Naira was traded N306.35 to the Dollar, while it stayed unchanged at N360.94/$ at the SMIS segment.
Also at the parallel market, local currency remained stable at N361 per Dollar.
Modupe Gbadeyanka