Naira stable at official market window
Naira recorded no movement against the United States dollar on the official market to trade at N464.67 per $1 local on Friday.
This is the same rate the local unit has traded in the past three consecutive segments this week.
The local currency opened the day’s sales at N464.61 to a dollar but it later closed at N464.67 per dollar on Friday, data published by FMDQ, where forex rates are officially collated and traded, showed.
The domestic currency hit an intra-day high of N460 and a low of N467 before settling at N464.6 again on Friday.
The strongest rate the naira traded this week is the N464.50 per dollar it exchanged on Tuesday.
Forex turnover within the market segment on Friday stood at $98.90 million, the data showed.
However, the naira fell significantly at the unofficial market segment on Friday, currency dealers said.
According to market dealers, the dollar exchanged hands with the naira at N750.00 and above across the unauthorised markets on Friday as against the N735.00 and N740.00 it was sold for within the week.
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Naira recorded no movement against the United States dollar on the official market to trade at N464.67 per $1 local on Friday.
This is the same rate the local unit has traded in the past three consecutive segments this week.
The local currency opened the day’s sales at N464.61 to a dollar but it later closed at N464.67 per dollar on Friday, data published by FMDQ, where forex rates are officially collated and traded, showed.
The domestic currency hit an intra-day high of N460 and a low of N467 before settling at N464.6 again on Friday.
The strongest rate the naira traded this week is the N464.50 per dollar it exchanged on Tuesday.
Forex turnover within the market segment on Friday stood at $98.90 million, the data showed.
However, the naira fell significantly at the unofficial market segment on Friday, currency dealers said.
According to market dealers, the dollar exchanged hands with the naira at N750.00 and above across the unauthorised markets on Friday as against the N735.00 and N740.00 it was sold for within the week.
Support PREMIUM TIMES’ journalism of integrity and credibility
Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.
For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.
By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.
Donate
TEXT AD: Call Willie – +2348098788999
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