Naira Gains at I&E on Rise 45% in Turnover Thursday 

By Adedapo Adesanya

The Naira appreciated against the US Dollar at the Investors and Exporters (I&E) segment of the foreign exchange market on Thursday, September 19, 2019.

The local currency gained 20 Kobo or 0.06 percent against the American currency to close at N362. 26 on Thursday compared with the N362.46 it was exchanged in the previous day.

The I&E market turnover however rose by 45 percent or $71.14 million to $228.98 million against from the previous day’s $157.84 million at the segment.

Into the fourth day of the week at the Interbank segment, the Naira/US Dollar rate saw no growth or alternatively a drop as it still remained flat at N306.90/$.

The case wasn’t different for the Naira against the greenback at the parallel market as the local currency also remained unchanged against the Dollar at N360/$1.

Likewise against the British Pound Sterling, the Naira remained flat at N450 to exchange at £1, the same amount it quoted on Wednesday.

The Nigerian currency, however saw a change against the Euro as the Naira depreciated by N1 from N395/€1 to trade at N396/€ at as the close of trading on Thursday at the segment.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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