Naira appreciates at I&E window as foreign reserves records first gain in two weeks

Thursday, 4th August 2022: The exchange rate between the naira and the US dollar closed at N428.12/$1 at the Investors and Exporters (I&E) window, where forex is traded officially.

Naira closed higher on Thursday, with a 0.25% appreciation against the US dollar to close at N428.12/$1 compared to N429.2/$1 recorded in the previous trading session. A total of $110.22 million was traded on Thursday, representing a 100.955% decrease when compared to the $123.78 million traded on Wednesday.

On the other hand, at the peer-to-peer market, naira fell to N651/$1 on Friday morning from N616.66/$1 recorded as of the same time on Thursday, representing a 5.6% decline compared to the previous day.

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