The Naira closed last month (April) on a good footing as it gained N28.15 at the official market, trading at N1,390.96 to the United States dollar.
Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), revealed that the gain represented a 1.98 per cent appreciation for the Naira.
The percentage increase is significant when compared to the previous trading date on Monday, 29 April.
The local currency experienced a two-week steady fall by exchanging at N1,419 to a US dollar.
The success story was replicated in the volume of currency traded as the total daily turnover increased.
The daily turnover stood at $225.36 million on Tuesday, up from $147.83 million recorded on Monday.
At the Investor’s and Exporter’s window, the Naira traded between N1,450 and N1,200 against the US dollar.
Source: News Agency of Nigeria
