Naira Appreciates at I&E, Black Market.


May 13, 2023.

Azonuchechi Chukwu.

The Naira appreciated against the Dollar in th black market, and the Investors and Exporters (I&E) windows of the foreign exchange (forex) market on Friday, May 12.

At the Investors and Exporters segment of the market, the domestic currency gained 40 Kobo or 0.09 per cent against the Dollar to close at N462.33/$1 compared with the preceding day’s exchange rate of N462.73/$1 despite high demand for forex.

Data from FMDQ Securities Exchange showed that the value of FX transactions at the official market stood at $161.91 million, lower than the $178.68 million recorded in the previous day by $16.77 million or 9.4 per cent.

Also, in the parallel market, the Nigerian currency improved its value by N1 against the greenback to trade at N741/$1 compared with Thursday’s closing rate of N742/$1.(

Azonuchechi Chukwu
Azonuchechi Chukwu
Ms Azonuchechi Chukwu has a BSC holder in mass communication Ebonyi State University

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