Naira exchange rate to dollar unchanged across all markets

There was calm across all foreign exchange market segments on Wednesday as Naira closed the day as it started out.

Data from FMDQ securities showed that at the Investors and Exporters (I&E) segment of the foreign exchange (FX) market, Naira closed at N416/$1 at the same rate from the previous day.

This occurred as demand for dollars reduced with participants transacting 36.4 per cent or $50.59 million less than they did on Tuesday.

READ ALSO: Naira appreciates as Nigeria’s external reserves record first increase in 14 days

At the close of trade $88.36 million compared with the $138.95 million recorded at the previous session was traded.

At the interbank market, Naira also traded flat against the Pound Sterling to remain intact at N564.58/£1, and also against the Euro it closed flat at N472.64/€1.

The black market also closed the day at N574 to a dollar, the same rate from the previous day.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now