Naira gains 0.04% in Investors’ FX Window as turnover hits one month high  

The Naira appreciated 0.04 per cent to N362.04/$ at the Investors and Exporters (I&E) FX window, underpinned on increased Foreign Portfolio Investment inflow into the country, causing the market turnover to hit a one month high of $545 million on Wednesday.

A total of $397.32 million was transacted through the I&E window.

The cash rate of the local currency also up 0.06 per cent to N358.30/$ at the parallel market, while the transfer rate dipped 0.14 per cent to N365.50/$.

At the Interbank, the Naira/USD rate remained stable at N306.80/$ at the spot market, while the CBN strengthened the SMIS rate by 0.04 per cent to N356.97/$.