Business
Naira appreciates after two-day lull
After a two-day lull, the Naira appreciated against the dollar at the Investor and Exporter (I&E) window on Friday, August 19, 2022.
It exchanged at N429.05 to the dollar, representing an increase of 0.05 per cent compared with the M429.38 it exchanged for the dollar on Thursday, August 18, 2022.
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The open indicative rate closed at N428.53 to the dollar on Friday, while an exchange rate of N444 to the dollar was the highest rate recorded in the day’s trading before it settled at N429.08, just as it sold for as low as N416.06 to the dollar in the day’s trading.
A total of $50.22 million dollar was traded in foreign exchange at the official window, while The Trumpet findings showed that it sold for between N630 to N652 to $1 at the parallel market in some locations in Lagos.
