Naira strengthens at parallel market, Investors’ FX Window

The Naira appreciated at the parallel market on Monday with the cash rate up 0.08 per cent to N358.50, while the transfer rate remained unchanged at N364.00/$.

It also gained against the Dollar at the Investors and Exporters (I&E) FX window, opening at N360.35, traded high at N362.00 and eventually closed at N360.30, representing 0.01% appreciation against last Friday’s closing position.

A total of $418.86 million was transacted through the I&E window and market turnover fell by 73 per cent to $112 million.

At the Interbank, the Naira/USD rate was improved by 0.02 per cent to N306.95/$ at the spot market, while the SMIS rate remained unchanged at N355.78/$.