By Adedapo Adesanya
At the close of trading on Wednesday, September 13, 2019, the Naira depreciated against the US Dollar at the Investors and Exporters (I&E) segment of the foreign exchange market.
This was the second consecutive day that the local currency would depreciate at the market segment this week as Tuesday closed at the segment unfavourable to the Naira.
At this segment of the market (I&E), the Nigerian currency depreciated by 17 kobo or 0.05 percent to close at N362.46 compared to N362.29 recorded on Tuesday.
The daily market turnover at the I&E window, however, saw a 6 percent or $9.76 million decline yesterday, closing at $148.08 million fin contrast to $157.84 million recorded in the previous session.
At the parallel market, the Naira and Dollar exchange rate closed flat at N360/$ as it did in the previous trading day. But when the performance is gauged against the Pound Sterling, the local currency depreciated by N1 to trade at N450/£.
When paired against the Euro, the domestic currency closed unchanged at N395/€ it was quoted on Tuesday.
At the interbank segment of the FX market yesterday, the Naira remained unchanged against the greenback, trading at N306.90/$.
more recommended stories
Treasury Bills Yields Rise Ahead of Wednesday’s Primary Auction
By Dipo Olowookere The average yields.
Nigerian Stock Market Returns to Familiar Territory
By Dipo Olowookere The gains posted.
NASD Exchange Closes Flat as Activity Level Rises Tuesday
By Adedapo Adesanya NASD Over the.
Oil Suffers Further Fall on IMF Forecast, China Data
By Adedapo Adesanya Oil prices continued.
Naira Further Depreciates Tuesday After Total Border Closure
By Adedapo Adesanya The Naira depreciated.
Over N2 Trillion Cash in Circulation—CBN
By Adedapo Adesanya Total Currency-in-Circulation (CIC).
IMF Cuts Global Growth Forecasts by 3%
By Adedapo Adesanya The International Monetary.
Nigeria Considers 30-Year Economic Growth Plan
By Adedapo Adesanya Nigeria’s Minister of.