Naira rebounds to N1,561 at I&E Window as oil prices hold steady above $77

Oct. 9, 2024 - Nairametrics

The naira appreciated against the U.S.

dollar, closing at N1,561.76 in the official Investor and Exporter (I&E) window, as global oil prices remained steady above $77 per barrel.

This appreciation marks a shift in Nigeria’s foreign exchange market, reflecting a 4.49% rise from the previous day’s rate of N1,635.

15. Key Data PointsClosing Exchange Rate: On October 8, the naira closed at N1,561.

76 per dollar, showing a 4.49% gain from the prior rate of N1,635.

15. Market Turnover: The day’s total turnover in the I&E window surged to $253.

68 million, a significant increase from the previous day’s volume of $126.24 million.

Market TrendsThe broader trend shows that Nigeria’s exchange rate has struggled throughout the year...