Naira recovers from three days losing streak in Investors FX Window

By FELIX OLOYEDE

The Naira halted its three days downturn on Wednesday as it gained 0.27 per cent to exchange N364.90/$ from N365.87/$ previous day at the Investors’ and Exporters’ Foreign Exchange Window.

Investors exchanged a total of $292.45 million was transacted through the I&E forex window.

At the parallel market, the cash and transfer rates depreciated by 0.19 per cent and 0.27 per cent to

N360.50/$ and N365.00/$ respectively.

The local currency at the inter-bank rate remained unchanged at N306.90 against the prior day’s closing price.

The Central Bank of Nigeria (CBN) had injected $210 million into the forex market on Tuesday to buoy liquidity.  into has continued its intervention in the inter-bank sector of the Foreign Exchange market by injecting another sum of.

It injected $100 million into the wholesale segment of the market and $55 million each in the Small and Medium Enterprises (SMEs) and invisibles sectors.