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Naira Watch

Naira constant, exchanges at 445.30 to a dollar



The naira closed trading on Wednesday unchanged at the official window of the forex exchange market.

Data from FMDQ securities showed that at the Investors and Exporters Window Naira closed yesterday at 445.30 to the dollar, the same rate as Tuesday

An exchange rate of N447 to the dollar was the highest rate recorded within the day’s trading before it settled at N445.30.

FMDQ further revealed that a total of 177.44 million dollars was by participants, which is more than the 108.32 million dollars from Tuesday.

READ ALSO:Naira records mixed performance at forex markets

Meanwhile, it was a good day for the Naira against the US dollar at the black market.

Checks by Ripples Nigeria showed that the exchange rate between the naira and the US dollar closed at an average of N767/$1 on Wednesday.

This represents a 0.39% appreciation as against N770/$1 recorded on Tuesday.

At the peer-to-peer market, where most crypto traders exchange dollars for Naira, the exchange rate closed at N757/$1.

This represents a 1.3% gain from N767/$1 that was recorded in the previous trading session.

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