Naira Appreciates Marginally to N1,130/$ on Parallel Market

Nume Ekeghe

The naira appreciated marginally against the dollar on the parallel market yesterday, as it closed at N1,130/$, slightly lower than the N1,150/$ it closed last Friday.

However, on the official Investors and Exporters (I&E) window, the naira closed at N795.41/$ depreciating marginally from the N780/$ it closed last Friday. However, intraday trade data from the FMDQ revealed the highest spot rate recorded on the I& E window was N1,099/$ and the lowest at N701/$.

The I&E window reported a daily volume turnover of $123.25 million, which indicates a notable 46.61 per cent increase in turnover compared to the $84.02 million recorded on Friday.