Naira Records Fresh Gains Against Dollar in Official Market

Naira Records Fresh Gains Against Dollar in Official Market

On Monday, the Naira strengthened by N28.34 at the official market, reaching a trading rate of N1,468.99 against the dollar. Data from the official trading platform of the FMDQ Exchange indicates that this gain corresponds to a 1.89% appreciation for the Naira.

This increase is particularly noteworthy when compared to the previous trading date on Friday, May 17, 2024, when the local currency traded at N1,497.33 per dollar. Additionally, the total daily turnover saw a significant rise, reaching 161.41 million dollars on Monday, up from the 83.50 million dollars recorded on Friday.

Meanwhile, at the Investor’s and Exporter’s (I&E) window, the Naira was traded within the range of N1,550 to N1,400 against the dollar. (Source: NAN)

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