Naira appreciates across official, unofficial markets
The Naira appreciated against the United States Dollar at the parallel market, the Peer-2-Peer (P2P) and the Investors and Exporters (I&E) windows of the foreign exchange (FX) market.
In the I&E window where Naira is official traded, FMDQ securities reports that on Friday the naira increased in value by 75 Kobo or 0.16 per cent to finish at N461.25/$1 compared to Thursday’s rate of N462.00/$1.
Participants during the trading session recorded a forex turnover of $81.98 million, which was 17.6% higher than $69.72 million on the previous day trading.
Checks revealed that in the black market, the Nigerian currency gained against its American counterpart by N1 yesterday to sell at N759/$1 compared to the previous day’s value of N760/$1.
Also, in the peer-to-peer segment, the local currency appreciated by N1 to quote at N769/$1, in contrast to the N770/$1 it was exchanged on Thursday.
In the interbank window of the market, the domestic currency appreciated against the Pound Sterling yesterday by N5.72 to close at N550.11/£1 versus Thursday’s N555.83/£1 and also improved against the Euro by N4.01 to end the session at N489.67/€1 versus N493.68/€1.
