Naira strengthens after Nigeria issues Eurobond

Naira, Nigeria’s legally approved means of exchange on Wednesday recorded marginal appreciation at the official window, a day after the country issued $4 billion Eurobond.

Liquidity in the market rose by 14.49 percent as the daily foreign exchange market turnover printed at $229.72 million on Wednesday from $200.65 million recorded on Tuesday

Consequently, after trading on Wednesday the dollar was quoted at N413.18 as against N413.28 quoted on Tuesday, representing 0.02 percent gain, data from the FMDQ indicated.

Currency traders who participated at the trading session on Wednesday maintained bids at between N409.00k and N415.00k per dollar