Business
Naira experiences mixed performance against Dollar as scarcity bites
The Naira experienced mixed performance in the foreign exchange (FX) market at the close of last week.
The currency appreciated by N2 against the US Dollar in the Peer-2-Peer (P2P) market, settling at N752/$1 on Friday, March 10, compared to N754/$1 in the previous session.
Similarly, the Naira gained N1 against the US Dollar in the parallel market, selling for N744/$1 versus the previous day’s exchange rate of N745/$1.
READ ALSO: Black market exchange rate moderates at N751/$1
However, in the Investors and Exporters (I&E) window, the official market Naira depreciated by 50 Kobo or 0.11% against the US Dollar, settling at N461.50/$1, compared to N461.00/$1 the previous day.
Despite the decline in forex transactions by 0.3% or $0.27 million to $82.56 million from the previous day’s value of $82.83 million, the Naira still weakened in this market segment.
In the interbank window, the Naira remained flat against the Pound Sterling and the Euro, settling at N548.01/£1 and N487.11/€1, respectively.
-
News6 days agoWidow of late investigative broadcaster Kola Olawuyi dies
-
Crime6 days agoOutrage as NYSC doctor allegedly dies after delay in approving sick leave
-
Latest5 days agoOne killed as ethnic clash erupts in Ibadan following reported overnight stabbing (video)
-
Aviation6 days agoNIS issues updated guidelines for contactless passport renewal for Nigerians abroad
-
Energy7 days agoGas flaring takes toll on children, residents in Rivers oil-producing communities
-
Latest6 days agoLagos arrests 396 beggars in fresh crackdown on street begging (Video)
-
Aviation7 days agoCould you prove that bag is yours? The precautions that could protect you from a travel nightmare
-
Agribusiness5 days agoStrengthening Nigeria’s Food Production Through Reliable Water Storage Infrastructure