Naira appreciates exchanging at N409.13/$1

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Factual Pursuit of Truth for Progress

 

The naira on Monday gained against the US Dollar at the Investors and Exporters window to close at N409.13/$1.

This was after gaining for two consecutive days at the NAFEX window to close at N409.13 to a dollar despite very low dollar supply.
This gain represents a 0.21% gain, when compared to N410/$1 recorded on Friday, March 24, 2021.

However, the naira remained stable at the parallel market, as it closed at N485/$1, this was the same rate that was recorded on the previous trading day.
At the NAFEX window, Naira appreciated against the US Dollar at the Investors and Exporters window on Monday to close at N409.13/$1. This represents an 87 kobo gain when compared to N410/$1 recorded on Friday, March 24, 2021.

The opening indicative rate remained stable to close at N409.17 to a dollar on Monday. This was the same rate that was recorded on Friday.

Also, an exchange rate of N410.50 to a dollar was the highest rate recorded during intra-day trading before it closed at N409.13/$1. It also sold for as low as N400/$1 during intra-day trading.

Forex turnover at the Investor and Exporters (I&E) window dropped by 57.4% on Monday, March, 29, 2021.

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