The foreign exchange market is pointing to an appreciation in the value of naira as it opened Monday morning with an indicative rate of N388.10k at the Investors and Exporters (I&E) forex window.
This represents a marginal appreciation of N0.11k when compared with N388.21k opened with on Friday, data from FMDQ revealed.
Read also: Foreign exchange turnover rises by 246.31% as Naira stabilises at N472
The prevailing rate at the black market is N472 per dollar, the same since Wednesday. However, traders are waiting to get new rate today, which may improve following the upcoming holiday to mark the Moslem festival.
Foreign exchange liquidity improved at the weekend as the daily turnover rose by 246.31 percent to $43.67 million on Friday from $12.61 million recorded on Thursday at the Investors and Exporters (I&E) forex window.
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.
