Naira Gains 0.19% at I&E, Loses 0.02% at Interbank

naira depreciate

By Dipo Olowookere

Like the previous session, the local currency traded mixed against the Dollar at the various segments of the foreign exchange market on Tuesday.

Business Post reports that at the Investors and Exporters (I&E) forex window, the Naira appreciated by 0.19 percent after adding 67 kobo to its value yesterday to close at N362.11 per Dollar.

According to data harvested from the website of FMDQ OTC Market by Business Post, the total value of transactions recorded at the I&E segment on Tuesday was N174.25 million.

It was observed that the Naira opened at the market segment on Tuesday at N362.41 to a Dollar, recording a low of N359/$ and a high of N364/$.

At the interbank segment of the forex market yesterday, a slight depreciation was witnessed, 0.02 percent.

The Naira lost 5 kobo against the Dollar at the interbank market on Tuesday, closing at N306.20 to the Dollar.

However, at the parallel market, the local currency was flat against the Dollar, exchanging at N361 to the Dollar.

Also, the Naira traded flat against the Pound Sterling and Euro at the parallel market, closing at N466 and N416 respectively.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via

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