Home Business Naira strengthens at parallel market, Investors’ FX Window

Naira strengthens at parallel market, Investors’ FX Window

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The Naira appreciated at the parallel market on Monday with the cash rate up 0.08 per cent to N358.50, while the transfer rate remained unchanged at N364.00/$.

It also gained against the Dollar at the Investors and Exporters (I&E) FX window, opening at N360.35, traded high at N362.00 and eventually closed at N360.30, representing 0.01% appreciation against last Friday’s closing position.

A total of $418.86 million was transacted through the I&E window and market turnover fell by 73 per cent to $112 million.

At the Interbank, the Naira/USD rate was improved by 0.02 per cent to N306.95/$ at the spot market, while the SMIS rate remained unchanged at N355.78/$.

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