Naira extends gain at I&E window

The Naira gained further against the United States dollar on the Investors and Exporters (I&E) on Tuesday, two sessions after it closed on a negative note last Friday.

According to data posted on the FMDQ securities exchange window where forex is officially traded, naira closed at N763.00 per dollar on Tuesday, appreciating further by N5.17 ( 0.67 per cent) from N768.17 it exchanged on Monday.

The local unit opened sales on Tuesday at N760.50/$1 before it experienced an intraday exchange rate of N841.00 (low), a high of N467.00, and then settled at N763.00.

The Tuesday rate signifies a 0.9 per cent appreciation from N770.17 the naira exchanged against the greenback on Friday last week.

Foreign exchange turnover within the day’s market session increased significantly by 23.98 per cent ($245.65 million) from $198.13 million published in the previous market session on Monday.

At the parallel segment, currency dealers exchanged the dollar at N766.00 across states in Nigeria including the Federal Capital Territory on Wednesday.