Nigerian Naira strengthens 2.22% at parallel forex segment

The Nigerian Naira appreciated by 2.22 per against the dollar to N440 on Monday from N450 on Friday at the parallel forex market.

The local currency also strengthened 0.21 per cent to close at N385.50 at the Investors and Exporters (I&E) foreign exchange window.

It opened at N386.25, traded high at N390.29 and eventually closed at N385.50, representing 0.21 per cent appreciation as against last Friday’s closing position.

Investors exchanged a total of $156.78 million through the I&E window.

However, the Naira at the official window closed unchanged at 361.00/$1.