Monday, Oct 25th 2021 2:28 PM

Market Digest Nigeria


Naira starts week at N410 per dollar.


Naira starts week at N410 to the dollar.

Naira started the week with a slight gain against the U.S. dollar at the investors and exporters window the official currency market.

According to data posted by FMDQ Security, the Naira closed at N410.33 on Monday appreciating by 0.16 percent from N411.00 the rate at which the naira closed on Friday last week.

The appreciation came as dollar supply rose in the market by 13.31 percent to $69.71 million compared to $61.52 million recorded on Friday.

Participants on Monday trading bid for U.S dollar between N399.00 and N437.41 before closing at N410.33.

However at the black market, remained unchanged at N482/$1

The local unit touched an intraday high of N399.00 and a low of N437.41 before closing at N410.33 on Monday.

According to abokifx, the black market exchange rate has remained unchanged for 8 days.

By this, the difference between the official market and unofficial market is N71.67.

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