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Naira Watch

Naira starts week N419.75 at official market, N608/$1 on black market

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The Naira is opening the week at N419.75 against the US Dollar at the Investors and Exporters (I&E) segment of the foreign market (forex).

This is as the Naira suffered a loss of 25 kobo or 0.06 per cent on Friday when compared to the N419.50/$1 it was traded on Thursday.

Read also: Naira gains marginally against dollar, exchanges at 419

FMDQ Securities Exchange data showed that the value of transactions at the forex window on Friday stood at $574.35 million.

However, at the interbank segment of the currency market, the value of the Naira closed flat against the British Pound Sterling on Friday at N521.94/£1 and against the Euro, it also remained unchanged at it was traded at N444.42/€1.

While at the Peer-to-Peer (P2P) FX window, Naira appreciated against the greenback yesterday by N2 or 0.33 per cent to settle at N608/$1 compared with the previous day’s N610/$1.

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