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Naira gains after 2-day loss to dollar
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Nigerian companies may have to pay dollar debts in naira due to forex shortage
The Naira on Wednesday appreciated against the dollar at the Investors and Exporters window, exchanging at N429.38.
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The figure represented a gain of 0.16 per cent compared with the N430.67 it exchanged for the dollar on Tuesday.
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The open indicative rate closed at N427.58 to the dollar on Wednesday.
An exchange rate of N444 to the dollar was the highest rate recorded within the day’s trading before it settled at N429.38.
The Naira sold for as low as N417 to the dollar within the day’s trading.
A total of N120.46 million was traded in foreign exchange at the official investors and exporters window on Wednesday.
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