Naira gains 19 kobo, closes at N360.31 to dollar

The Naira, on Tuesday, appreciated to N360.31 per dollar at the Nigerian Autonomous Foreign Exchange (NAFEX) window.

Data from the Financial Market Dealers Quote (FMDQ) showed that the indicative exchange rate NAFEX window dropped to N360.31 per dollar on Tuesday, from Monday’s closing market rate of N360.50 per dollar. This translated to a 19 kobo appreciation for the local currency.

Meanwhile, the volume of dollars traded in the window remained unchanged at $86.69 million.

At the parallel market however, the Naira remained unchanged at N363.00 per dollar for the fourth consecutive business day since Thursday last week.

This is coming five days after Vice President Yemi Osinbajo described as ‘absurd”, claims that the Central Bank is printing money to support the government.

The Naira, on Tuesday, appreciated to N360.31 per dollar at the Nigerian Autonomous Foreign Exchange (NAFEX) window.

Data from the Financial Market Dealers Quote (FMDQ) showed that the indicative exchange rate NAFEX window dropped to N360.31 per dollar on Tuesday, from Monday’s closing market rate of N360.50 per dollar. This translated to a 19 kobo appreciation for the local currency.

Meanwhile, the volume of dollars traded in the window remained unchanged at $86.69 million.

At the parallel market however, the Naira remained unchanged at N363.00 per dollar for the fourth consecutive business day since Thursday last week.

This is coming five days after Vice President Yemi Osinbajo described as ‘absurd”, claims that the Central Bank is printing money to support the government.

 

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