After recording a rebounded rate at the Nigeria Autonomous Foreign Exchange Fixing (NAFEX) window a day before the closure of the official forex market, the Nigerian currency, Naira, on Friday, relapsed against the US Dollar, as well as shedding 0.02 per cent at the Central Bank official rate.
The local currency, had on Thursday, ended its oes against the dollar, following a three-day low trading during the week under review, before gaining a total N4.50k to close at 355.55 per dollar on Thursday, compared to 359.60 traded on Wednesday, but surprising relapsed on the last trading of the week to record a closing rate of 359.56.
However, it fell to 359.56 to the Greenback to end the week on a downward trend.
Although, it had earlier registered a total gain of 0.025 per cent at 360.63 per dollar, which was an open rate at the forex window, against 361.38 opened on Thursday and 362.97 that was seen in the previous day, FMDQ OTC data showed.
However, the daily turnover at the Investor andExporters FX window, improved significantly by $67.12 million of the new figure of $213.21m, while compared to $146.09m traded on Thursday, as well higher than Wednesday $100.29m, Tuesday $165.29m and stronger than $212.43m recorded on Monday, representing the highest turnover for the week, even though it was weaker than $236.97 registered the preceding Friday, while considering on a week-on-week (w-on-w) basis.
Also, the naira, at the official forex market dropped further to 305.80 per dollar compared to Thursday, Wednesday and Tuesday flat rate of 305.75; and weaker than 305.65 sold last Monday and 305.60 exchanged previous Friday (w-on-w).
Daily Times Nigeria
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