Tag
BRENT CRUDE
The naira appreciated at the parallel market to close at N483/$1 on Friday, representing a N2 gain compared to N485/$1 recorded on Thursday.
The exchange rate between the naira and the US dollar, closed at N411/$1 at the I&E Window.
Oil prices have risen steadily in the past three weeks, with Brent Crude rising steadily from $64 in April to $68 today.
The exchange rate between the naira and the US dollar closed at N410.5/$1 on Wednesday, as dollar supply spiked by 305%.
The naira gained at the official window despite the low liquidity at the forex market with dollar supply dropping by 30.7%.
Naira depreciated on Tuesday, at the Nigerian Autonomous Foreign Exchange (NAFEX) window, as the rate closed at N411.67 to a dollar.
The naira remained stable at the parallel market to close at N485/$1 on Friday.
The exchange rate between Naira and Dollar closed at N410/$1 at the NAFEX window as bitcoin plunged below $50k.
Nigeria's exchange rate appreciated against the US dollar on Wednesday to close at N410/$1.
Naira appreciated against the US Dollar at the NAFEX window on Wednesday to close at N410.50/$1.
Naira gained against the US Dollar at the NAFEX window on Friday to close at N409/$1.
The Brent benchmark was trading down 4.81% on the day, or $3.12 down per barrel at $61.79 and later ended at $62.38 on Monday night.