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Naira Watch

Naira gains marginally against dollar, exchanges at 419



Naira exchanges for N562 per dollar, as CBN moves to stop the slide

The Naira on Wednesday exchanged at 419 to the dollar at the Investors and Exporters window, compared to 419. 50 on Tuesday, representing 0.12 per cent appreciation.

The open indicative rate closed at N418.21 to the dollar on Wednesday.

An exchange rate of N444.00 to the dollar was the highest rate recorded within the day’s trading before it settled at N419 while it sold for as low as N410/$1 during intra-day trading.

Read also: Naira makes slight recovery against US dollars

A total of 171.98 million dollars was traded in foreign exchange at the official Investors and Exporters window on Wednesday.

On the other hand, the exchange rate at the peer-to-peer market depreciated on Thursday morning, trading at a minimum of N604/$1 as against N600/$1 recorded as of the same time on Wednesday.

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