Naira appreciates 0.03% to $/N357.90 at parallel market

The cash rate appreciated by 0.03 per cent to N357.90/$, while the transfer rate remained unchanged N364.00/$ at the parallel market on Monday.

At Investors and Exporters (I&E) FX window the Dollar opened at N360.68, traded high at N363.50 and eventually closed at N360.39, representing a 0.01 per cent appreciation against Friday’s closing position.

A total of $231.34 million was transacted through the I&E window.

The Naira/USD rate weakened by 0.02 per cent to N306.95/$ in the Spot market, while the SMIS rate was unchanged at N355.78/$ at the Interbank;
The NAFEX closing rate in the I&E window appreciated marginally by 0.01% to N360.39/$.

The Naira at the inter-bank rate closed at N306.95 representing a 0.02 per cent depreciation against Friday’s closing position.