Nigerian Naira Appreciates Against US Dollar

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Nigerian Naira Appreciates Against US Dollar

According to the latest reports from the Investors’ and Exporters’ window, the Nigerian Naira experienced a slight appreciation against the US dollar on Wednesday. The Naira was able to exchange at N461.09 to the dollar, representing a 0.07% increase when compared to the previous day’s rate of N461.42.

Throughout the trading day, the Naira had its highest exchange rate of N462.11 to the dollar before settling at N461.09. The open indicative rate, which is the rate determined by the Central Bank of Nigeria, closed at N461.30 to the dollar on Wednesday.

While the Naira was able to appreciate, it was also noted that it sold for as low as N446 to the dollar during the day’s trading. This indicates that there were fluctuations in the exchange rate throughout the day.

Overall, a total of $142.25 million was traded at the official Investors’ and Exporters’ window. It is hoped that the slight appreciation of the Naira will continue, as this will contribute to the growth of the Nigerian economy.

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