Naira sees 0.04% uptick at I&E Window

Naira trades flat at N502 against dollar on Nigerian streets

Naira sees 0.04% uptick at I&E Window     Nigeria’s local currency, Naira appreciated by 0.04 per cent to close at $411.50 against the Dolla at the Investors & Exporters Foreign Exchange (I & EFX) window on Monday. The local currency at the specialized window lost by 0.17per cent and 0.24 per cent against the Euro and Pound Sterling to close at N499.06 and N580.17 respectively. Data obtained from FMDQ Exchange on Monday said total foreign exchange trade turnover by investors and exporters was $111.53 million. At the parallel market,…

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CBN shifts forex transactions to I&E window

Foreign reserves shed $2.3bn in H1 amid rising oil price

CBN shifts forex transactions to I&E window     The Central Bank of Nigeria (CBN) has shifted official forex transactions to the Investors’ & Exporters (I&E) forex window, it was learnt yesterday. The apex bank’s  adoption of a new flexible exchange-rate policy for official transactions effectively marks the third devaluation of the naira in a year. The exchange rate in the Investors and Exporters Window ( I&E window ) also called the Nigerian Autonomous Foreign Exchange -NAFEX has remained at N410/$1 since February. The naira exchanges at N486 to dollar…

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