The foreign exchange market closed on Thursday with Nigeria’s currency gaining marginally 0.03 percent to N408.67k compared to N408.80k on Wednesday at the Investors and Exporters (I&E) forex window.
Read Also: Naira falls by 0.63% to N480 on strong demand for dollar
Currency traders who participated in the trading on Thursday maintained bids at between N382.00k and N415.00k/$, according to data from the FMDQ.
Traders said the market was calm as demand moderated amid low liquidity. The foreign exchange daily turnover declined by 79.30 percent to $43.97 million on Thursday from $212.43 million recorded on Wednesday.
Naira weakened by 0.42 percent as the dollar closed at N480 on Thursday as against N478 closed on the previous day at Bureau De Change (BDC) segment of the market.
The local currency steadied at N480 per dollar at the parallel market on Thursday.
Hope Moses-Ashike
Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks.
She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings.
Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.