Naira gained slightly against the U.S. dollar at the Investors & Exporters (I&E) window of the foreign exchange market on Thursday, data posted on the FMDQ Security Exchange where forex is officially traded showed.
However, the currency remained unchanged on the parallel market.
Naira closed at N409.67 at the trading session of the I&E window on Thursday, this represents N0.08 or 0.02 per cent appreciation from N409.75, the rate at which it closed at the previous session on Wednesday.
The appreciation emerged as naira saw an intraday high of N400.00 and a low of N412.00, before closing at N409.67 on Thursday.
The slight gain seen by the domestic currency happened as turnover plummeted by 33.89 per cent, with $ 98.20 million recorded as against the $148.54 million posted on Wednesday.
Meanwhile, the local unit remained unchanged from the rate it traded at the unofficial market in the previous session on Wednesday, according to data posted on abokiFX.com, a website that collates parallel market rates in Lagos.
According to the data posted, the currency closed at N485.00, the same rate it exchanged hands with the greenback currency since March 12 last week.
This leaves the spread between the unofficial market and the I&E window exchange rate at N75.33, which translates to a gap of 15.53 per cent.
The CBN’s official rate on Thursday was still N379 per dollar.
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