Naira Exchanges at N362.48 to US Dollar

• Naira Exchanges at N362.48 to US Dollar

The Nigerian Naira exchanged at N362.48 to a US dollar on Thursday at the Investors & Exporters (I&E) Foreign Exchange window, 0.03 percent more than you need to buy a dollar when it was exchanged at N362.30 on Wednesday.

On the black market, the exchange rate was flat at N360 per US dollar, while the interbank sold the US dollar for N306.90, the same as Wednesday.

“Similarly, the parallel market rate remained constant at $/N360.00, while the Naira appreciated against the US Dollar at the I&E FX Window by N0.70 per dollar to close at N362.23 per dollar in September 2019,” the report by FMDQ OTC securities explained.

The total volume traded on the I & EFX window on Thursday was $437.39 million, according to FMDQ OTC securities.

In September, the total foreign exchange turnover was $18.12 billion or N6.56 trillion, a 29.47 percent or $7.57 billion decrease when compared with August turnover.