Naira gains marginally against Dollar at Investors’ Forex Window on gubernatorial election eve

A day before Nigerian gubernatorial election, the Naira appreciated slightly by 0.02 per cent against the Dollar at Investors and Exporters (I&E) FX window on Friday.

The local currency opened at I&E Forex Window at $/N360.29, traded high at N362.00 and eventually closed at N360.42, representing a 0.02 per cent appreciation against the previous day’s closing price.

A total of $563.61 million was transacted through the I&E window.

The exchange rate was flat at the parallel market, the cash rate and transfer rates remained unchanged at $/N358.00 and $/N364.00 respectively.

The Naira at the inter-bank rate remain unchanged to closed at N306.90 against yesterday’s closing price.
Meanwhile, Overnight(O/N) rate closed at 10.08 per cent, representing a 0.50 per cent appreciation against yesterday’s closing position, while Open Buy-Back (OBB) rate also closed at 9.17 per cent, representing a 0.67 per cent depreciation against yesterday’s closing position.