Dollar

The Naira on Tuesday appreciated to N363.07 against the dollar at the investors’ window, stronger than N363.11 posted on Monday.

The Naira on Tuesday gained one kobo to exchange at N359 to the dollar, stronger than N360 posted on Monday.

Naira on Friday depreciated marginally against the US dollar at the investors’ window, exchanging at N362.64 compared to N362.32 posted on Thursday.

The Nigerian currency had traded at N359 on Wednesday, while the pound Sterling and the Euro closed at N481 and N416.5, respectively.

The Nigerian currency had been trading at N360 to the dollar for four days running, while the Pound Sterling and the Euro closed at N486 and N420, respectively.

The Nigerian currency had traded at same rate for the past two days, while the Pound Sterling and the Euro closed at N480 and N421 respectively.

The Pound Sterling and the Euro, however, closed at N482 and N419, respectively.

At the parallel market, the naira traded at N360 to a dollar, stronger than the N360.6 exchanged before the Sallah break, while the Pound Sterling and the Euro traded at N489 and N423, respectively.

This followed the Bank’s intervention in the Foreign Exchange market on Thursday.

Friday’s sale of foreign exchange by the CBN came closely on the heels of its intervention in the wholesale segment of the market on Wednesday when it pumped $210 million in the inter-bank forex market.

The Nigerian currency traded at N360, stronger than N362.3 posted on Monday, while the Pound Sterling and the Euro closed N497 and N428.

The Nigerian currency lost 1.1 points to exchange at N362.3, weaker than N361.2 posted on Friday, while the Pound Sterling and the Euro closed at N497 and N429, respectively.

The Naira also closed against the euro at N481 at same market in Lagos.

The Nigerian currency had exchanged at N520 to the dollar at the peak of onslaughts by currency speculators before the CBN stated intervening by injecting foreign exchange in the market

In commodity markets, gold softened 0.7 per cent to 1,337.81 dollars an ounce and away from a one-year peak of 1,357.54 dollars.

At Monday’s Forex trading, the CBN offered the sum of $100,000,000 as wholesale interventions and allocated the sum of $50,000,000 to the Small and Medium Enterprises forex window. 

Alhaji Aminu Gwadabe, the President, Association of Bureau De Change Operators of Nigeria, said that the outlook of the Naira remained positive

The fresh injection was done on Monday

Alhaji Aminu Gwadabe, the President of Association of Bureau de Change Operators of Nigeria, said that he expected the naira to continue to appreciate in the coming weeks

The Naira had maintained the same rate on Tuesday