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29
Fri, Mar

Naira Bounces Back After Monday's Decline

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The Naira has bounced back from Monday's fall at the Investors and Exporters window after gaining 0.18% to the dollar. Officially, the naira is now exchanging at N418.25 to the dollar, compared with the N419 traded on Monday. The naira began the day at N417.70/$1 before oscillating to an intraday high of N412.00, reaching a low of N444.00 before closing the day at N418.25/$1 on Tuesday.

A total of 234.54 million dollars was traded in foreign exchange at the official Investors and Exporters window on Tuesday.

However, the naira at the parallel market remained stable at N590 to a dollar, but fell further against the US dollar on Wednesday morning at the peer-to-peer market, trading at N600/$1.

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