ENUGU, Nigeria (VOICE OF NAIJA)- The naira, on Thursday, reportedly appreciated to N746.28 per dollar in the Investors and Exporters (I&E) window.
On Wednesday, data from FMDQ showed that the indicative exchange rate for the Investors and Exporters (I&E) window fell to N746.28 per dollar from N782.49 per dollar. This indicates N36.21 appreciation for the naira, according to Punch.
Similarly, on Thursday, the naira appreciated to N790 per dollar in the parallel market, from N793 per dollar on Tuesday, indicating N3 appreciation.
While there is no direct information regarding this latest development, emerging reports have it that they may not be unconnected to President Bola Ahmed Tinubu’s latest economic reforms.
The coming weeks will also be key as the naira is expected to appreciate further against the dollar and possibly end at N700/dollar in the I&E Window.