The Naira gained 0.05 percent against the United States dollar in the official market after foreign currency inflows into the Nigerian Autonomous Foreign Exchange Fixing (NAFEX) market plummeted by 29.95 percent on Friday.
The naira opened at N461.30 to the dollar and closed the official window at N461.25 on Wednesday, data published on the FMDQ website, where forex is officially traded, showed.
Market data posted showed that the naira traded in a market range of N446.00 and N462.50 but finally closed at N461.25 per $1.
This is a 0.05 percent appreciation from the N461.50 rate it exchanged against the dollar in the previous session on Tuesday.
Foreign exchange turnover recorded in today’s trading session was pegged at $115.58 million on Wednesday, compared to $165.01 million traded in the previous market segment on Tuesday.
In the parallel market, currency exchangers in Abuja said that the dollar was exchanged at N740.00 per $1 and sold at N745.00 to the dollar on Wednesday.
This is about N5.00 or 0.7 percent appreciation from N745.00 to the dollar traded in the previous session on Tuesday amid shortage of naira notes across the country.
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