Economy
Naira Surges Further on Official Market, Hits N1,354.21/$
The Naira experienced a notable surge yesterday at the official market, reaching a trading rate of N1,354.21 against the dollar.
This latest development was confirmed by the official trading platform of the FMDQ Exchange, which oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM).
Data provided revealed that the Naira witnessed a remarkable gain of N46.19, marking a 3.29% increase compared to the previous trading session on Friday, May 3, where it stood at N1,400.40 per dollar.
However, despite this impressive uptick, the total daily turnover saw a decrease, with transactions amounting to 84.83 million dollars on Monday, in contrast to the 201.88 million dollars recorded on Friday.
Meanwhile, at the Investor’s and Exporter’s (I&E) window, the Naira was observed trading within the range of N1,285.00 to N1,441.00 against the dollar.