Monday, Apr 19th 2021 3:32 PM

Market Digest Nigeria


Naira gains against the dollar as oil prices soar


Nigeria’s currency (Naira) on Thursday recorded 1.1 percent appreciation to close at N406.50 against the dollar.


This represents a N4.50 gain when compared to N411  (Naira) recorded on the previous trading day, data from the FMDQ indicated.

The appreciation is attributed to improved liquidity at the Investors and Exporters (I&E) forex window and crude oil prices rise.

Currency traders who participated in the trading on Thursday maintained bids at between N389.25k and N427.45k/$.

The daily foreign exchange market turnover increased by 102.08 percent to $66.99 million on Thursday from $33.15 million recorded on Wednesday.

Naira continued to steady at N480 per dollar at the parallel market and Bureau De Change (BDC) segment of the foreign exchange market on Thursday.

On Thursday, crude oil prices traded at above $64 per barrel.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

To Top
Get the best of Market Digest Nigeria financial news
delivered to your inbox daily!
By clicking Give it a try, I hereby: Agree and Consent to the Terms of Use and the Privacy Policy
& I may receive free newsletters & promotions from this site and can choose to unsubscribe anytime.