The Naira, on Wednesday, October 12, gained 0.08 percent to close at N304.50 against the US dollar at the interbank or spot FX market.
The local currency had on Tuesday closed flat at the spot FX market exchanging at N304.75 to one US dollar same as Monday’s closing rate. It had appreciated by 0.65 percent on Monday, October 10, at the interbank or spot FX market to close at N304.75 to one US Dollar.
This was in contrast to the depreciation of 0.01 percent recorded last Friday, October 7 when the US Dollar was exchanged for N306.75.
Meanwhile, exchange rate remained stable at N460/US$ in the parallel market, appreciated to the Euro at N505 compared to previous days rate of N515 and also recorded gains of 1.8 percent against the Pound Sterling to trade at N550 to one British pound, compared to N560 it was exchanged for previously at the parallel market.
