- The Naira closed April on a positive note, surging by N28.15 against the dollar in the official market
- Data from the FMDQ Exchange indicates a 1.98% appreciation from the previous trading day, reaching N1,390.96 against the dollar
April concluded on a positive note for the Naira, which surged by N28.15 in the official market, closing at N1,390.96 against the dollar.
According to data from the FMDQ Exchange, which oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), this represents a notable 1.98% appreciation from the previous trading day.
This upward trend contrasts with the preceding weeks’ decline, where the Naira struggled, hitting a low of N1,419 to the dollar.
Notably, the volume of currency traded also saw a boost, with daily turnover reaching 225.36 million dollars on Tuesday, up from 147.83 million dollars on Monday.
In the Investor’s and Exporter’s (I&E) window, the Naira exhibited resilience, fluctuating between N1,450 and N1,200 against the dollar.