The Nigerian Naira, on Friday, August 11, surged at the parallel segment of the Nigerian Foreign Exchange market.
At the black market, the local currency closed flat at N367 against the Greenback. Against the British Pound Sterling, the Naira closed at N477 and closed at the rate of N430 against the European single Currency, Euro.
The Naira appreciated by +0.47% to N364.78 against the USD and +0.16% to N473.32 against the GBP at the IEFX window today while it shed -0.48% to N430.08 against the EUR.
Data from the Financial Market Dealers Quote (FMDQ) showed that the indicative exchange rate for the window, also known as, Nigeria Autonomous Foreign Exchange, NAFEX, dropped to N366.5 per dollar at the close of business yesterday from N367.5 per dollar on Wednesday.
This translated to appreciation of N1 for the naira as well as N1.67 appreciation in two consecutive days.
