Home Business Naira appreciates 0.82% at parallel market, exchanges N363 against Dollar

Naira appreciates 0.82% at parallel market, exchanges N363 against Dollar

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The Naira gained 0.82 per cent against the Dollar to close at N363.00 at the parallel market segment of the foreign exchange market as transfer rates appreciated by 0.27 per cent to close at and N368.00 on Monday.

The local currency depreciated 0.02 per cent the inter-bank market, exchanged $/N306.90, the Investors and Exporters (I&E) FX window opened at N364.34, traded high at N366.50 and eventually closed at N365.03, representing a 0.08 per cent appreciation against Friday’s closing price.

A total of $332.24 million was transacted through the I&E window on Monday. At this session of the market, a total of $281.07 traded in 423 deals, with rates ranging between N358.00/$ – N366.00/$.

The SMIS rate remained unchanged at N359.81/$.

The NAFEX closing rate appreciated by c.0.08 per cent to close at N365.03/$ from N365.33/$ previously.

The CBN maintained its FX sales to BDC operators as it has sustained its intervention in the country’s forex market.