Sunday, October 17, 2021

Naira gains at official market

Naira clinched a meager gain against the U.S dollar at the official market on Tuesday, after the local unit fell in the previous session on Monday.

Data from FMDQ securities exchange window, where forex is officially traded showed naira closed at N414.30 per $1.

This represents a N0.1 or 0.02 per cent appreciation from N414.40 it exchanged on Monday.

The last time the naira closed at N414.30 on the dot was on Friday last week.

Naira’s performance on Tuesday became evident as forex turnover decreased by 16.80 per cent with $153.39 recorded as against the $184.31 million posted in the previous session on Monday.

It touched an intraday high of N405.00 and oscillated to a low of N420.15 before closing at N414.30 per $1 on Tuesday.

At the black market in Abuja, dealers exchanged the naira at the range of N567.00 and N568.00 per $1 on Tuesday.


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