The Naira traded flat against the United States Dollar in the Investors and Exporters (I&E) and the Peer-to-Peer (P2P) windows of the foreign exchange (FX) market on Tuesday, February 28.
According to data obtained by FMDQ Securities Exchange naira closed at N462.00/$1, the same rate from Monday.
During trading, the value of forex transactions decreased by 11.6 percent or $6.28 million to $48.09 million from the $54.37 million recorded a day earlier.
However, the country’s Nigerian currency depreciated against its American counterpart in the black market.
In the P2P segment, the value of the local currency against the greenback remained unchanged yesterday at N768/$1, and in the official market, the exchange rate was flat at N462.00/$1.
Also, in the interbank segment of the market, the Naira neither made a gain nor a loss against the British Pound Sterling and the Euro as it ended Tuesday’s session at N552.52/£1 and N486.97/€1, respectively.
Join the conversation
Support Ripples Nigeria, hold up solutions journalism
Balanced, fearless journalism driven by data comes at huge financial costs.
As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.
If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.
Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.