Naira appreciates against the dollar to close at N409.65

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Factual Pursuit of Truth for Progress

 

The exchange rate between Naira and the US Dollar on Thursday closed at N409.65/1$ in the Importers and Exporters window.

This represents a 0.33% appreciation compared to N411/$1 recorded on Wednesday.

The naira however remained stable in the parallel market to close at N485 to a dollar, which was the same rate as maintained since last week.

At the NAFEX official window, the Naira appreciated against the US Dollar at the Investors and Exporters window on Thursday to close at N409.65 to a dollar.

This represents a N1.35k gain when compared to N4111/$1 recorded on Wednesday, 7th April 2021.

The opening indicative rate closed at N410.5 to a dollar on Thursday. This represents a N0.76 depreciation when compared to N409.74/$1 recorded on Wednesday.

Also, an exchange rate of N419 to a dollar was the highest rate recorded during intra-day trading before it closed at N409.65/$1. It also sold for as low as N394/$1 during intra-day trading.

Forex turnover at the Investor and Exporters (I&E) window increased by 690.6% on Thursday, April 8, 2021.

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