Naira Makes Slight Gains Against Dollar, Trading at N791.42 in Official Window
The Naira on Tuesday appreciated against the dollar, exchanging at N791.42 at the Investors and Exporters window.
According to NAN, the Naira gained by 0.08 per cent compared with N792.04 which it exchanged for the dollar on Monday.
The open indicative rate closed at N779.50 to the dollar on Tuesday.
During the day's trading, the Naira experienced a spot exchange rate of N845 to the dollar, which marked the highest rate recorded before eventually settling at N791.42.
Conversely, the Naira reached a low of N730 against the dollar during the same trading session.
On Tuesday, a total of $51.55 million was traded at the investors' and exporters' window.
Since the introduction of foreign exchange market reforms by the Central Bank of Nigeria, the forex window has been subject to fluctuations.
Yusuf Muda, the Director of the Centre for the Promotion of Private Enterprise, provided advice to the apex bank on implementing policy interventions to mitigate forex market volatility.
In the meantime, during a briefing after its Monetary Policy Committee meeting, Folashodun Shonubi, the Acting CBN governor, assured of improvements in the forex market.
Leave A Comment