May 12, 2023.
The Nigerian Naira Appreciates against US Dollar in the Investors and Exporters window of the foreign exchange market but depreciated in the parallel market, also known as black market on Thursday, May 11.
In the Investors and Exporters segment, the Nigerian currency appreciated against its American counterpart on Thursday by 29 Kobo or 0.06 per cent to quote at N462.73/$1 compared with the previous day’s N463.02/$1, amid sustained high demand for forex, as the transaction value remained at $178.68 million, according to the FMDQ Securities Exchange.
Similarly, the domestic currency shrank against the Dollar in the black market yesterday by N1 to trade at N742/$1, in contrast to Wednesday’s exchange rate of N741/$1.(www.naija247news.com).