Nigeria’s legal tender, Naira, closed at N740.08 per dollar at the investors and exporters (I&E) window on Wednesday.
The I&E foreign exchange (FX) window is the market trading segment for investors, exporters and end-users that allows for FX trades to be made at exchange rates determined based on prevailing market circumstances. It is the country’s official FX market.
FMDQ Securities Exchange Limited, a platform that oversees FX trading in Nigeria, said the closing rate represents a 6.49 per cent appreciation from the N791.42/$ recorded on Tuesday.
However,at the parallel/black market where the dollar is traded unofficially, the naira traded within a range of N860-N865 per dollar in Lagos on Wednesday.
