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