Naira appreciates against the US currency once more.
For the second day in a row, the Nigerian currency increased in value against the US dollar at the official market.
On Thursday, in the official market, which is the Investors and Exporters (I&E) window, the Nigerian currency appreciated by 45 Kobo or 0.1 percent to quote at N461.25/$1 compared with the previous day’s value of N461.70/$1.
This happened as forex demand decreased yesterday by 58.9 percent or $64.66 million
Data from FMDQ securities shows that FX trades worth $45.16 million were carried out compared with the $109.82 million executed in the previous trading day……………………CONTINUE READING
However, at the back market the Naira crashed against the United States Dollar at the parallel market on Thursday by N4 or 0.54 percent to trade at N752/$1, in contrast to Wednesday’s rate of N748/$1.
Also, in the Peer-2-Peer (P2P) segment of the FX market, the domestic currency gained N2 against the American Dollar to sell at N764/$1 versus Wednesday’s N766/$1.
In the interbank segment, the Naira lost 24 Kobo against the British Pound Sterling to close at N567.21/£1 compared with the previous N567.45/£1, and depreciated by 20 Kobo against the Euro to quote at N500.73/€1, in contrast to N500.53/€1.
