Naira Gains Third Consecutive Day at Official Window Reaching N1,419/$1, Parallel Market Dips to N1,450

Nume Ekeghe

The naira yesterday gained for the third consecutive day at the official  Nigerian Autonomous Foreign Exchange (NAFEX) window, closing at N1,419/$1  again surpassing a weakened parallel market rate which closed yesterday at N1,450/$1.

The official window gained by N15.67 closing at N1,419.86 compared to N1,435.53 recorded on Friday

However, the parallel market took a downward turn  to close yesterday evening at N1,450 compared to the N1,430 it closed on Friday indicating a N20 loss over the weekend.

Furthermore, the official window recorded the same daily turnover of $440.13 million yesterday compared to last week Friday.

The highest spot rate recorded was N1,526/$1 while the lowest spot rate recorded was N906/$1.