See Exchange Rate Tonight As Naira Rises Against Dollar

Naira gained marginally against the dollar on Thursday, 14th December 2023 at the official market but closed flat at the black market. 

The domestic currency appreciated 0.36% to close at N901.41 to a dollar at the close of business, data from the NAFEM where forex is officially traded, showed.

This represents an N3.24 gain or a 0.36% increase in the local currency compared to the N904.65 closed on Wednesday.

See Exchange Rate Tonight As Naira Rises Against Dollar

The intraday high recorded was N1185.10/$1, while the intraday low was N475/$1, representing a wide spread of N710.10/$1.

According to data obtained from the official NAFEM window, forex turnover at the close of the trading was $147.20 million, representing a 21.76% increase compared to the previous day.

However, the naira closed flat at the parallel forex market where forex is sold unofficially, the exchange rate quoted at N1260/$1, the same as what it closed the previous day, while peer-to-peer traders quoted around N1228.82/$1.

The Central Bank of Nigeria (CBN) has said it has made tranche payments to 31 banks to clear the backlog of foreign exchange forward obligations.

The apex bank also disclosed that it has set up foreign exchange frameworks to address the FX issues.

BY IYABO AINA

Publisher Of News Rain Nigeria