2023 GOVERNORSHIP AND
STATE HOUSE OF ASSEMBLY ELECTIONS
Naira appreciates against dollar across different Forex segments
The Naira appreciated against the United States Dollar across the main segments of the foreign exchange (forex) market, the Peer-2-Peer (P2P), the Investors and Exporters (I&E), and the black market windows.
Data obtained from FMDQ Securities Exchange revealed that the Naira gained 12 Kobo or 0.03 per cent on Friday against the greenback during the session to sell at N461.38/$1, in contrast to the previous day’s value of N461.50/$1.
Also, in the P2P arm of the market, the Nigerian currency was exchanged with its American counterpart on Friday at N765/$1, in contrast to the previous day’s N766/$1, indicating an appreciation of N1.
Similarly, in the parallel market, the domestic currency closed stronger against the US Dollar yesterday by N2 to settle at N747/$1 compared with Thursday’s closing rate of N749/$1.
However, in the interbank window, the local currency lost N1.85 against the Pound Sterling to quote at N570.35/£1 compared with the preceding session’s N568.50/£, and against the Euro, it depreciated by 96 Kobo to finish at N501.17/€1 versus N500.21/€1.
Contents provided and/or opinions expressed here do not reflect the opinions of The Pacesetter Frontier Magazine or any employee thereof.
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