The Naira appreciated by 0.67% against the dollar, trading at ₦1,678.93 in the official market. This gain follows three consecutive losses. However, daily trading turnover dropped to $128.59 million. At the I&E window, the Naira fluctuated between ₦1,698 and ₦1,631 per dollar, reflecting market volatility.
On Tuesday, the Naira gained strength against the U.S. dollar in the official market, trading at ₦1,678.93 per dollar. This represents an appreciation of ₦11.44 or 0.67% compared to Monday’s rate of ₦1,690.37.
According to figures from the FMDQ Exchange, this improvement comes after three days of consecutive losses for the currency. However, the daily trading turnover experienced a decline, dropping to $128.59 million from $173.14 million recorded the day before.
In transactions at the Investors' and Exporters' (I&E) window, the Naira traded within a range of ₦1,698 to ₦1,631 per dollar. These fluctuations highlight the ongoing challenges faced by Nigeria’s foreign exchange market, which remains under pressure from economic reforms and external market factors.
The Naira’s performance continues to be closely monitored, with stakeholders hopeful for more consistent improvements in the coming weeks.
