Naira appreciates 0.08% to $/N358

Naira gained 0.08% to exchange N358.00 to a Dollar at parallel market on Tuesday, while the transfer rate remained unchanged at N364.00/$.

At the Interbank, the Naira/USD rate weakened slightly by 0.02 per cent to N307.00/$ at the spot market, while the SMIS rate remained unchanged at N355.78/$.

The NAFEX closing rate in the I&E window however appreciated further by 0.08 per cent to N360.30/$, as market turnover improved markedly by 160 per cent to $405 million.

A total of $357.50 million was transacted through the I&E window.