Naira Strengthens at Official Window to N1,597/$1

The Naira has been reported to have continued to strengthen at the official window ending on a stronger note  compared to its performance at the parallel market.

The naira at the parallel market remained unchanged at N1,600 for five days. 

However, the official Nigerian Autonomous Foreign Exchange (NAFEM) appreciated on Monday, closing at N1,597.34 signifying a N5.41 gain compared to N1,602.75 it closed on Friday.

The daily turnover recorded on Monday was $140.45 million indicating a 2.19 per cent increase from $137.43 million, quoted on Friday.

Also, the highest spot rate on Monday, was pegged at N1640, while the lowest spot rate recorded was N1,400.

Nume Ekeghe