FX turnover rises by 117.14% as Naira stabilises at black market

FX turnover rises by 117.14% as Naira stabilises at black market


FX turnover rises by 117.14% as Naira stabilises at black market

The foreign exchange daily turnover at the Investors and Exporters (I&E) forex window rose by 117.14 percent to $40.28 million on Monday compared with $18.55 million.

In the market, Naira lost N0.33k as the dollar was quoted at N386.33k on Monday as against N386 it closed on Friday last week, data from FMDQ indicated.  Earlier in the morning, the market opened with an indicative rate of N387.10k per dollar the same rate as on Friday.

The foreign exchange market opened the week with Naira indicating stability across various market segments.  Nigeria’s currency maintained stability as traders are selling the dollar at N455, the same as it sold for on Friday at the black market.

At the retail Bureau, Naira closed unchanged at N456.00 per dollar the same as it sold for on Friday. The official rate at the Central Bank of Nigeria (CBN) window also was stable at N361.00k per dollar.



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