Business
Naira appreciates against Dollar at official market
The Nigerian currency, the Naira, has appreciated again at the official market, continuing a trend of gains in recent days.
Data from FMDQ securities where Naira is officially traded showed that on Wednesday, it increased in value by 75 Kobo or 0.16 percent to trade at N462.50/$1 compared with the previous day’s exchange rate of N463.25/$1.
This happened as the forex turnover for the session broadly went up by 55.1 percent or $52.57 million to $148.02 million from Tuesday’s $95.45 million.
READ ALSO: Naira reverses gains, drops points against Dollar
In the same scenario in the black market, the Naira strengthened against the dollar by N2 to sell at N737/$1 on Wednesday compared with the preceding day’s value of N739/$1.
However, the interbank data from CBN showed that the currency was down against the Pound Sterling at the midweek session by N1.18 to close at N573.84/£1 versus N572.66/£1 and against the Euro, it shed N16.70 to trade at N505.75/€1 compared with N489.05/€1 it ended on Tuesday.
-
Latest6 days agoLagos NURTW organising secretary Toba Ajiboye dies after gunmen attack
-
Aviation1 week agoNCAA, NAMA disagree over proposed revenue sharing formula
-
Business7 days agoNCC unveils cost-sharing framework to boost broadband rollout, end repeated road excavations
-
Business4 days agoCBN targets $12bn annual Diaspora inflows to boost FX liquidity
-
Maritime1 week agoLicensed port agents back FG’s Green Tax on imported vehicles
-
Politics7 days agoAjeromi: NDC vows even distribution of prosperity amongst Nigerians
-
Business4 days agoSEC launches nationwide campaign to help investors recover unclaimed dividends
-
Latest7 days agoAPC unveils Lagos Assembly candidates, leaves out 12 incumbent lawmakers