Naira Appreciates By 19 Kobo To Close At N360.31 To Dollar

The Naira, on Tuesday, appreciated to N360.31 per dollar at the Nigerian Autonomous Foreign Exchange (NAFEX) Window.

Data from the Financial Market Dealers Quote (FMDQ), showed that the indicative exchange rate NAFEX Window, dropped to 360.31 per dollar, Tuesday, from Monday’s closing market rate which stood at N360.50 per dollar.

This translated to a 19 kobo appreciation of the Naira.

Meanwhile, the volume of dollars traded in the window remained unchanged at $86.69 million.

The Naira, however, in the parallel market, yesterday, remained unchanged at N363.00 per dollar for the fourth consecutive business day since Thursday last week.

This is coming barely five days after the Vice President, Yemi Osinbajo dismissed claims that the Central Bank was printing money to support the Buhari’s government is completely “absurd.”