31 August 2017

Nigeria: Naira Appreciates to N366/$

The Naira yesterday appreciated for the second consecutive day to N366 per dollar in the parallel market, even as investors traded $84 million in the Investors and Exporters (I&E) window.

Vanguard survey revealed that the parallel market exchange rate dropped to N366 per dollar yesterday from N368 per dollar on Tuesday, translating to N2 appreciation for the currency. Thus the naira has appreciated for two consecutive days, by N4, in the parallel market this week.

The naira also appreciated by 67 kobo in the I&E window yesterday as the indicative exchange rate dropped to N359 per dollar from N359.67 on Tuesday.

Also the volume of dollars traded in the I&E rose by 13 per cent to $83.76 million from $73.87 million on Tuesday.

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