Naira Weakens at I &E,strengthens at the Black Market


May 23, 2023.

Azonuchechi Chukwu.

Nigerian Naira appreciated against the United States Dollar in the black market window but depreciating in the Investors and Exporters (I&E) category.

The Nigerian currency in the parallel market on Monday  gained N1 against the American Dollar to settle at N757/$1 compared with the preceding session’s value of N758/$1.

But in the official market, the Nigerian Naira was weakened against the Dollar by 0.11 per cent or 50 Kobo to trade at N463.50/$1, in contrast to last Friday’s closing price of N463.00/$1.

The turnover of forex transactions closed higher by 16.4 per cent or $15.03 million to $106.84 million from the $91.81 million reported in the previous trading day, according to data from FMDQ Securities Exchange.(

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

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