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Naira gains at official market

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The currency remained unchanged at the parallel market segment for seven consecutive trading days.

Data posted on the Nafex window showed that the naira closed at N411.25 per $1 on Thursday, this implies a N0.2 or 0.05 per cent from N411.45 rate it exchanged hands with the greenback currency in the previous session on Wednesday.

The Naira touched an intraday low of N420.86 and a high of N400.00 before closing at N411.25 as of the close of business on Thursday. The forex turnover decreased by 24.04 per cent, with $84.06 million recorded at the end of the market session as against the $110.67 million posted in the previous session on Wednesday.

Meanwhile, data posted on abokiFX.com, a website that collates parallel market rates in Lagos showed that the naira closed again at N503.00 per $1 at the black market window on Thursday, the same rate it has been trading since June 30, last month.

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