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Naira gains at N1,072/$1 on official forex window, falls to N1,100/$1 at parallel market

The Naira appreciated on the official FX window yesterday, even as it depreciated on the parallel market Specifically, on the official Nigerian Autonomous Foreign Exchange (NAFEM) window yesterday, the naira closed at N1,148.14 to a dollar, which was a N75.4 gain compared to N1,148.14/$1 it closed on Tuesday. On the other hand, on the parallel market, the naira depreciated to N1,100/$1 yesterday, compared with the  N1000/$1 it exchanged on Tuesday, indicating N100 loss. The daily turnover on the official NAFE, decreased by 29.6 per cent reaching $189.12 million yesterday, compared to the $268.75 million recorded on Tuesday. Furthermore, the highest spot rate observed yesterday, stood at N1,220/$, with the lowest spot rate recorded at N981.04/$1.

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