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Naira appreciates to N359.56 in NAFEX

Naira appreciates to N359.56 in NAFEX

By Peter Egwuatu

The naira, yesterday, appreciated to N359.56 in the Investor and Exporter (I&E) Foreign Exchange, forex Window.


Naira
liquidity

The indicative exchange rate for the I & E  forex Window, known as Nigerian Autonomous Foreign Exchange, NAFEX, appreciated to N359.56 per dollar, yesterday, from Wednesday ’s market rate which stood at N360.70 per dollar.  This indicates an appreciation of N1.14 kobo in the value of the naira.

Meanwhile, the volume of dollars traded in the window, yesterday, was $191.07 million from $299.80 million exchanged on Wednesday. This indicates a 2.9 per cent decrease in the volume of dollars traded in the market.

The parallel market rate for the naira was exchanged at N363 per dollar and has remained stable for over two weeks.

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