Naira Closes Flat Against USD at Most Market Segments…

Date:

In the just concluded week, Naira closed flat against the USD at the Bureau De Change and the parallel (“black”) markets at N440.00/USD and N450.00/USD respectively.

Thank you for reading this post, don't forget to subscribe!

Also, NGN/USD closed flat at the Interbank Foreign Exchange market, at N358.51/USD, amid weekly injections of USD210 million by CBN into the foreign exchange market: USD100 million was allocated to Wholesale Secondary Market Intervention Sales (SMIS), USD55 million was allocated to Small and Medium Scale Enterprises and USD55 million was sold for invisibles.

However, Naira depreciated further against the USD at the Investors and Exporters FX Window (I&E FXW) by 0.04% to close at N386.50/USD in line with our expectations.

Elsewhere, the Naira/USD exchange rate rose (i.e Naira depreciated) for most of the foreign exchange forward contracts: 1 month, 2 months, 3 months, 6 months and 12 months rates increased by 0.24%, 0.48%, 0.77%, 1.48% and 2.58% respectively to close at N389.06/USD, N391.83/USD, N394.84/USD, N403.18/USD and N426.56/USD respectively.

However, spot rate was unchanged at N361.00/USD.

Share post:

Subscribe

Popular

More like this
Related

Access Holdings to pay N1.80 as final dividend to shareholder

March 28, 2024. Azonuchechi Chukwu. Access Holdings has revealed plans to...

Police gun down two notorious bandits in Benue

March 28, 2024. Azonuchechi Chukwu. Men of Operation Zenda, a Joint...

Army declares eight wanted in connection with the k!lling of its officers in Okuama

March 28, 2024. Azonuchechi Chukwu. The Nigerian Army has declared eight...

Naira Appreciates Against Dollar at the NAFEM Window

March 28, 2024. Azonuchechi Chukwu. The Naira’s euphoric appreciation against the...
Social Media Auto Publish Powered By : XYZScripts.com

Discover more from Naija247news

Subscribe now to keep reading and get access to the full archive.

Continue reading