Business
Naira Records Significant Appreciation Against Dollar at Official Market
The Nigerian Naira appreciated notably against the U.S. dollar at the official market on Thursday, closing at N1,639.50 to the dollar, according to data from the FMDQ Exchange. This marked a day-on-day gain of N42.15, translating to a 2.5 percent increase from Wednesday’s rate of N1,681.65.
The appreciation of the Naira was accompanied by a rise in trading activity. Daily turnover at the FMDQ Exchange surged to $244.96 million on Thursday, up from $196.78 million on the previous day, indicating robust market engagement.
At the Investors and Exporters (I&E) window, the Naira traded within a range of N1,700.00 and N1,635.00 against the dollar, reflecting both demand and trading dynamics in Nigeria’s official exchange market.
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