Business
Naira stable, gains at official, parallel market
The Naira strengthened against the US dollar on the official currency market after gaining 0.36 percent at the conclusion of business on Wednesday.
The Naira opened trading at N429.17 but closed at N429.44 to the dollar on Wednesday, compared to the N430 and above level it has been trading since the start of business this week, according to statistics provided by FMDQ, where forex is legally traded.
READ ALSO: Naira collapses further, hits N705/$ at parallel market
The Nigerian Naira reached an intraday high of N418.00 and a low of N453.20 before ending at N429.44 at the conclusion of sales on Wednesday, with $109.47 million delivered as Forex exchange during this period.
Similarly, at the black market, Naira recorded a slight gain as the end of the month saw more Nigerians working for foreign companies exchanging their earnings for Naira.
Currency traders said they purchased the dollar for N695.00 and sold it between N698.00 to N700.00, compared to N705 previously.
-
Aviation6 days agoAviation Crackdown: NCAA suspends services to Air Peace, Ibom Air, nine others
-
Business5 days agoNigeria gets 2026 Toyota RAV4 as Toyota-By-CFAO sets Lagos launch date
-
Featured1 week agoNigeria under siege as presidency focuses on 2027 re-election amid worsening insecurity
-
Editorial Opinion4 days agoUnder the Uniform: The urgent need for mental health, substance abuse screening for officers
-
Featured4 days agoEx-Police chiefs’ governorship bids spark debate over source of political funding
-
Football1 week agoFIFA grants tier 1 status to 2026 Unity Cup in London, elevate diaspora tournament to full international level
-
Featured1 week agoPolitical gamble backfires as ex-ministers lose governorship bids after leaving Tinubu cabinet
-
Aviation6 days agoFAAN meets international airlines to improve airport operations, passenger experience