The Naira marginally appreciated in value as it traded at N705 to a US dollar on Tuesday at the parallel market, which represents a 0.14% appreciation from N706/$1 it traded the previous trading day.
Similarly, it also recorded 0.14 percent appreciation at the cryptocurrency peer-to-peer (P2) FX market, traded at N704.5/$1 on Tuesday morning, as against N705/$1 that it traded in the early hours of Monday.
On Monday, the exchange rate at the official market closed at N436.5/$1, from N436.33/$1, recorded on Friday, last week.
Market information reflected that the national currency’s opening indicative rate closed at N434.4/$1 on Monday, compared to N433.83/$1 recorded in the previous trading session.
At the official window, the Naira peaked during the trading, exchanging at N437/$1, before it settled at N436.5/$1, while it traded as low as N425/$1 during intra-day trading.
A total of $99.78 million in FX value was traded in the Investors and Exporters (I&E) window on Monday, representing 51.14% higher than the $66.02 million that it exchanged for at the close of trading on Friday.
