Naira Makes a Comeback: Gains N28.15 Against Dollar
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| Naira Makes a Comeback: Gains N28.15 Against Dollar |
At the Investor's and Exporter's window, the naira traded within a range of N1,450 to N1,200 against the dollar. This rebound is a promising sign for the Nigerian economy, and we hope to see continued stability and growth in the foreign exchange market.
In a welcome turn of events, the Nigerian naira closed out the month of April on a high note, gaining N28.15 against the US dollar at the official market. According to data from the FMDQ Exchange, the naira traded at N1,390.96 to the dollar, representing a significant 1.98% appreciation.
This upward trend marks a departure from the steady decline of the past two weeks, during which the naira exchanged at N1,419 to the dollar. The increase in value is a positive development, and it's accompanied by a boost in trading volume. The daily turnover rose to $225.36 million on Tuesday, up from $147.83 million the previous day.
At the Investor's and Exporter's window, the naira traded within a range of N1,450 to N1,200 against the dollar. This rebound is a promising sign for the Nigerian economy, and we hope to see continued stability and growth in the foreign exchange market.
Here are the key points:
- Naira gains N28.15 against the US dollar
- Trades at N1,390.96 to the dollar
- 1.98% appreciation from previous trading day
- Daily turnover increases to $225.36 million
- Trading range at Investor's and Exporter's window: N1,450 - N1,200
We'll continue to monitor the market and provide updates on any significant developments.
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