Naira Gains Against Dollar At I&E Window, Trades At N771.69

The naira appreciated by 0.22 percent against the dollar at the Investors and Exporters (I&E) window on Thursday, closing at N771.69 per dollar.

The Nigerian currency recovered from its previous rate of N773.42 per dollar on Wednesday, according to data from the FMDQ Securities Exchange.

The open indicative rate, which is the weighted average of all trades executed in the market, also improved to N777.82 per dollar on Thursday, from N778.67 per dollar on Wednesday.

The naira traded within a range of N700 to N799.90 per dollar during the day, before settling at N771.69 per dollar.

The total volume of transactions at the I&E window increased to $121.60 million on Thursday, from $97.51 million on Wednesday.

The naira’s performance at the I&E window reflects the improved liquidity and stability in the foreign exchange market, as the Central Bank of Nigeria (CBN) continues to intervene to meet the demand of genuine customers.

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