Naira sells at N461.50 to a dollar official rate

Nigerian currency, the naira recorded a positive outing against the US dollar at the official foreign exchange market on Tuesday.

Details from FMDQ securities where Investors and Exporters (I&E) buy and sell officially shows that at the end of trading naira appreciated by 0.14 percent or 67 Kobo to close at N461.50/$1 compared with Monday’s value of N462.17/$1.

This occurred as the value of FX transactions at the official market window depreciated by 39.1 percent or $47.85 million. At the close of trades, the turnover for the session stood at $74.58 million compared with the $122.43 million recorded at the previous session.

READ ALSO:Naira appreciates against US dollar at official market, P2P

Also, in the parallel market wing of the FX market on Tuesday, the Naira regained strength against the American Dollar after it gained N3 to sell at N750/$1, in contrast to the preceding day’s N753/$1.

But in the Peer-2-Peer (P2P) forex segment, the Naira showed no movement against the United States Dollar, closing flat at N761/$1 yesterday.

This same scenario played out in the interbank window of the market, where the domestic currency was flat against the Pound Sterling and the Euro at N555.40/£1 and N496.32/€1, respectively.

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