Naira appreciates marginally against Dollar, exchanges at N795.28


Nigeria’s currency has kickstarted the week positively as Naira appreciated against the Dollar, exchanging at 795.28 at the Investors’ and Exporters’ window.

According to NAN, the country’s currency increased by 1.07 percent compared to N803.90, which it exchanged for the Dollar on July 14.

The open indicative rate closed at N782.79 to one Dollar on Monday.

A spot exchange rate of N832 to the Dollar was the highest rate recorded within the day’s trading before it settled at N795.28.

The Naira sold for as low as N699.50 to the Dollar within the day’s trading.

On Monday, $34.55 million was traded at the investors’ and exporters’ window.

However, at the Parallel Market (Black Market), Naira is exchanged at N820 against $1.

Recall that the Central Bank of Nigeria introduced foreign exchange reforms in June to unify the official and parallel market windows.

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