On Monday, the Naira witnessed a significant appreciation in the official market, trading at N1,339.33 to the dollar.
Data sourced from the official trading platform of the FMDQ Exchange, which oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), indicated that the Nigerian currency strengthened by N143.48. This marks a 9.67% increase compared to the preceding trading day on Friday, May 24, 2024, when it traded at N1,482.81.
Nevertheless, the total daily turnover declined to $180.80 million on Monday, a decrease from the $556.25 million recorded on Friday.
Meanwhile, at the Investor’s and Exporter’s (I&E) window, the Naira traded within the range of N1,501 and N1,310 against the dollar.