Naira trades at N744/$ at parallel market

The exchange rate between the naira and the dollar improved at the parallel market on Monday to trade to an average of N744/$1, representing a 0.53per cent appreciation compared to N748/$1 recorded on Friday.

On the other hand, the exchange rate at the cryptocurrency P2P exchange depreciated marginally by 0.10per cent to a minimum of N745.77/$1, as against N745/$1 recorded in the previous trading session.

Meanwhile, the exchange rate at the investors and exporters (I&E) window appreciated slightly to N461.5/$1, a gain of 0.11 per cent from N462/$1 recorded on Friday.

Forex turnover however increased by 0.07 per cent on Friday to $119.43 million, from $119.35 million that exchanged hands on Thursday.

Nigeria’s external reserves level increased further by 0.03per cent on Thursday to stand at $37.02 billion from $37.01 billion recorded the previous day.

Back to top button