JUST IN: Naira Gains Against Dollar, See Latest Exchange Rate

JUST IN: Naira Gains Against Dollar, See Latest Exchange Rate

The naira gained 0.05 percent against the US dollar in the official market on Wednesday, after foreign currency inflows into the Nigerian Autonomous Foreign Exchange Fixing (NAFEX) market fell by 29.95 percent.

The naira opened at N461.30 to the dollar and closed at N461.25 at the authorised window on Wednesday, according to data published on the FMDQ website, where forex is officially traded.

According to market data, the naira traded between N446.00 and N462.50 per $1, eventually closing at N461.25 per $1.

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This represents a 0.05 percent increase from the previous session’s N461.50 rate against the US dollar.

The foreign exchange turnover recorded during the day’s trading session on Wednesday is $115.58 million, compared to $ 165.01 million traded in the previous market segment on Tuesday.

On Wednesday, currency exchangers in Abuja reported that the dollar was exchanged at N740.00 per $1 and sold at N745.00 per dollar in the parallel market.

This represents a N5.00 or 0.7% increase from the previous session on Tuesday, when it traded at N745.00 to a dollar due to a scarcity of naira notes across the country.

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