Home | News | General | Naira gains 38kobo as reserves increase by $123.8M
Wazobia FM at 10: OAPs share amazing stories to stardom
Man faces jail term for abandoning wife, twins in hospital over N239,100 bill

Naira gains 38kobo as reserves increase by $123.8M

By Adaeze Okechukwu
The naira, yesterday, appreciated by 38 kobo to N360.27 per dollar in the Investor and Exporter (I&E) Foreign Exchange Window, even as the external reserves recorded a $123.8 million increase in nine days.

Data from the Financial Market Dealers Quote, FMDQ, showed that the indicative exchange rate for the I & E Window, known as Nigerian Autonomous Foreign Exchange, NAFEX, appreciated to N360.27 per dollar, yesterday, from N360.65 per dollar on Wednesday, translating to a 38 kobo increase in the value of Naira.

Meanwhile, the volume of dollars traded in the window, dropped by $19.39 million to $214.84 million, yesterday, from $234.23 million traded the preceding day.

Vanguard analysis further revealed that the external reserves increased by $123.8 million to $34.4 billion, compared to $34.3 billion recorded last week Tuesday.

CLICK HERE TO READ MORE FROM: General Visit website

view more articles

About Article Author

Chuka (Webby) Aniemeka
Chuka (Webby) Aniemeka

Chuka is an experienced certified web developer with an extensive background in computer science and 18+ years in web design &development. His previous experience ranges from redesigning existing website to solving complex technical problems with object-oriented programming. Very experienced with Microsoft SQL Server, PHP and advanced JavaScript. He loves to travel and watch movies.

View More Articles

100 Most Popular News

1 2 3 4 Displaying 1 - 100 of 320