The naira gains in the official market
The naira gained 0.05% against the US dollar in the official market after foreign currency inflows on the Nigerian Autonomous Foreign Exchange Market (NAFEX) fell 29.95% on Wednesday.< /p>
The naira opened at 461.30 naira to the dollar and closed at the cleared window at 461.25 naira on Wednesday, according to data published on the FMDQ website, where the forex is officially traded.
Released market data indicated that the naira traded within a market range of 446.00 naira and 462.50 naira, but eventually closed at 461.25 naira for $1.
This is an appreciation of 0.05% from the rate of 461.50 naira it traded against the dollar in the previous session on Tuesday.
Forex turnover recorded during the day's trading session is pegged at $115.58 million on Wednesday, compared to $165.01 million traded in the previous market segment on Tuesday.
In the parallel market, Abuja money changers said the dollar was traded at 740.00 naira to $1 and sold at 745.00 naira to the dollar on Wednesday.
This is around 5.00 naira, an appreciation of 0.7% from 745.00 naira per dollar traded in the previous session on Tuesday, amid a shortage of naira banknotes across the country.
Support the integrity and credibility journalism of PREMIUM TIMES Good journalism costs a lot of money. Yet only good journalism can guarantee the possibility of a good society, an accountable democracy and a transparent government. For free and continued access to the best investigative journalism in the country, we ask that you consider providing modest support to this noble endeavour. By contributing to PREMIUM TIMES, you help sustain relevant journalism and keep it free and accessible to everyone.Donate
[embedded content]
TEXT ANNOUNCEMENT: Call Willie - +2348098788999
The naira gained 0.05% against the US dollar in the official market after foreign currency inflows on the Nigerian Autonomous Foreign Exchange Market (NAFEX) fell 29.95% on Wednesday.< /p>
The naira opened at 461.30 naira to the dollar and closed at the cleared window at 461.25 naira on Wednesday, according to data published on the FMDQ website, where the forex is officially traded.
Released market data indicated that the naira traded within a market range of 446.00 naira and 462.50 naira, but eventually closed at 461.25 naira for $1.
This is an appreciation of 0.05% from the rate of 461.50 naira it traded against the dollar in the previous session on Tuesday.
Forex turnover recorded during the day's trading session is pegged at $115.58 million on Wednesday, compared to $165.01 million traded in the previous market segment on Tuesday.
In the parallel market, Abuja money changers said the dollar was traded at 740.00 naira to $1 and sold at 745.00 naira to the dollar on Wednesday.
This is around 5.00 naira, an appreciation of 0.7% from 745.00 naira per dollar traded in the previous session on Tuesday, amid a shortage of naira banknotes across the country.
Support the integrity and credibility journalism of PREMIUM TIMES Good journalism costs a lot of money. Yet only good journalism can guarantee the possibility of a good society, an accountable democracy and a transparent government. For free and continued access to the best investigative journalism in the country, we ask that you consider providing modest support to this noble endeavour. By contributing to PREMIUM TIMES, you help sustain relevant journalism and keep it free and accessible to everyone.Donate
[embedded content]
TEXT ANNOUNCEMENT: Call Willie - +2348098788999
What's Your Reaction?
