Naira starts new trading week on a weak note

September 10, 2019
151 Views

Nigerian Naira, on Monday, failed to live up to the positive momentum it recorded last week at the foreign exchange market.

This is because the local currency started off the new trading week on a weak note.

At the Investors and Exporters (I&E) window, the Naira, which appreciated last Friday to N362.08, fell on Monday by 0.03 percent or 10 kobo to close at N362.18/$1.

Data from the FMDQ showed that the daily market turnover also went down yesterday by $125.93 million or 39 percent to $196.51 million from total volume of $322.44 million exchanged on Friday.

However, at the parallel market, the Naira had an impressive performance on Monday just as it did last week; appreciating by N2 against the Euro to trade at N395/€1 against N397/€1 it traded at the close of transactions last Friday.

Still at the same market, the Naira remained flat against both the British Pound and the US Dollar; after the end of trading on Monday, closing at N447/£1 and N360/$1.

At the interbank window, the domestic currency remained flat against the Dollar at N306.90/$1.

You may be interested

FG budget deficit hits N1.14trn in three months
News
News

FG budget deficit hits N1.14trn in three months

Webby - January 28, 2020

Nigeria’s budget deficit under President Muhammadu Buhari in three months hit N1.14 trillion in the fourth quarter of 2019 as…

Rumpus as Lagos Task Force raids commercial motorcycles, trikes ahead of Feb 1 ban
Crime
Crime

Rumpus as Lagos Task Force raids commercial motorcycles, trikes ahead of Feb 1 ban

Webby - January 28, 2020

There was commotion in Lagos on Tuesday as Task Force has arrested commercial motorcycles and tricycles before the February 1st…

Sane Returns To Full Training After Five Months Out With Injury
Sports
Sports

Sane Returns To Full Training After Five Months Out With Injury

Webby - January 28, 2020

Manchester City forward Leroy Sane has returned to full training following a knee ligament injury he suffered back in August.…

Leave a Comment

Your email address will not be published.