NAIRA GAINS AT OFFICIAL MARKET

NAIRA GAINED SLIGHTLY AGAINST THE U.S DOLLAR AT THE I&E WINDOW OF THE FOREIGN EXCHANGE MARKET ON TUESDAY, DATA POSTED ON THE FMDQ SECURITY EXCHANGE WHERE FOREX IS OFFICIALLY TRADED SHOWED.

HOWEVER, THE DOMESTIC CURRENCY DEPRECIATED AT THE BLACK MARKET.

NAIRA CLOSED AT N409.00 AT THE TRADING SESSION OF THE I&E WINDOW, THIS REPRESENTS N0.13 OR 0.03 PER CENT INCREASE FROM N409.13, THE RATE AT WHICH IT CLOSED AT THE PREVIOUS SESSION ON MONDAY.

IT EXPERIENCED AN INTRADAY HIGH OF N400.00 AND A LOW OF N411.00, BEFORE CLOSING AT N409.00 ON TUESDAY.

THIS BECAME EVIDENT AS TURNOVER INCREASED BY 55.42 PER CENT, WITH $47.93 MILLION RECORDED AS AGAINST THE $30.84MILLION POSTED ON MONDAY.

HOWEVER, NAIRA FELL SLIGHTLY AT THE UNOFFICIAL MARKET ON TUESDAY, DATA POSTED ON ABOKIFX.COM, A WEBSITE THAT COLLATES PARALLEL MARKET RATES IN LAGOS SHOWED.