Despite the low volume of activity at the Nigerian foreign exchange market, naira weakened parallel segment.

The cash and transfer rates of the parallel market increased to N420.00/$ and N450.00/$ respectively on Friday, compared to N416.00/$ and N435.00/$ in the previous trading session, as demand continues to pile up amidst very little supply.

Activities were flat at the official windows- The status quo remained the same at the Interbank segment, as the CBN Spot, and CBN SMIS as rates remained unchanged.

At the Investors and Exporters (I&E) FX window opened at N384.21, traded high at N392.00 and eventually closed at N383.00, unchanged against Thursday’s closing position.

Investors exchanged a total of $25.43 million through the I&E window.



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