Naira Closes at N362/$ at Parallel Market

Naira unaffected by Trump’s victory

The Nigerian Naira on Tuesday, June 12, maintained its rate against the United States of America Dollar at the parallel segment of the Nigerian Foreign Exchange market.

The local currency exchanged the rate of N362 against the greenback, same rate it traded for on Monday, June 11.

Against the British Pound Sterling, the Nigerian currency exchanged at the rate of N490 at slipped to the rate of N430 against the European Single Currency, Euro.

Total turnover in the IEW surged 183.02% to USD269.44 million, traded within the NN353-NGN362/USD band.

However, the naira on Monday, June 11, appreciated by 36 kobo in the Investors and Exporters (I&E) window.

Data from FMDQ showed that the indicative exchange rate for the I&E window dropped to N360.55 per dollar from N360.91 per dollar last week Friday, translating to 36 kobo appreciation for the naira.