Godwin Emefiele, Governor of Central Bank of Nigeria,
Naira stabilizes N411.50/$1 at I&E window, gains N4 to Dollar at parallel market, Tuesday
The exchange rate between the Naira and the United States dollar closed at N411.50/$1 at the official Investors and Exporters (I&E) window, Tuesday.
The Nigerian currency remained stable against the US dollar at the I&E window on Tuesday to close at N411.50/$1, stabilizing at the same rate as traded on Monday.
The opening indicative rate also remained stable to close at N411.50/$1 on Tuesday, this was the same rate that it closed at on Monday.
An exchange rate of N412.70 to a dollar was the highest rate recorded during intra-day trading before it settled at N411.50/$1, while it sold for as low as N400/$1 during intra-day trading.
At the parallel or black market, the Naira appreciated to N508/$1, having traded at N512/$1 the previous day, representing a N4 gain as against Monday’s rate.
Meanwhile, foreign exchange (forex) turnover at the Investors and Exporters (I&E) window dropped by 19.6 per cent on Tuesday.
The turnover declined from $143.20 million recorded on Monday, to $115.17 million on Tuesday.
