I&E FX Window: Naira appreciates, now N416.62 to dollar
The naira exchanged at N416.62 to $1 at the Investors and Exporters window on Tuesday, representing a ‘negative 0.09’ per cent appreciation, compared to N417 to $1 recorded on Monday.
The open indicative rate also closed at N416.17 to $1 on Tuesday.
An exchange rate of N444 to $1 was the highest rate recorded within the day’s trading before it settled at N416.62.
The naira sold for as low as N410 to $1 within the day’s trading.
On Tuesday, a total of $127.12 million was traded in foreign exchange at the official Investors and Exporters Window.
Meanwhile, Twitter founder Jack Dorsey said on the same day that the effects of the U.S. dollar inflation were negatively being felt by Nigeria and other developing countries.
“You don’t understand the power of the dollar and our single export. Ask someone in Nigeria how the dollar affects them,” Mr Dorsey said in a tweet in response to the White House saying it expects a hike in its inflation and the U.S. printing its currency over the past years.
(NAN)
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