Naira strengthens against Dollar in all major forex market segments

The Naira appreciated against the Dollar across all the major segments of the foreign exchange market on Thursday as U.S.-Iran crisis continued to heat up.

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The local currency strengthened 0.02 per cent to exchange N306.95/$1 at the official window and gained 50k to close at N360.50/$ at the parallel market, while the transfer rates remained unchanged at N363.50/$.

At the Investors and Exporters (I&E) forex window, Naira opened at N363.29, traded high at N365.00 and eventually closed at N363.81, representing a 0.08 per cent appreciation as against the previous day’s position.

Meanwhile, investors exchanged a total of $265.85 million through theI&E window.