Naira rebounds, gains N28.15 against dollar

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The Naira on Tuesday closed the month of April on a good footing as it gained N28.15 at the official market, trading at N1,390.96 to the dollar.
Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), revealed that the gain represented a 1.98 per cent appreciation for Naira.

The percentage increase is significant when compared to the previous trading date on Monday, 29 April.

The local currency experienced about two weeks of steady fall by exchanging at N1,419 to a dollar.

The success story was replicated in the volume of currency traded, as the total daily turnover increased.

READ ALSO: Naira volatility throws MTN Nigeria into N393 billion quarterly loss

The daily turnover stood at 225.36 million dollars on Tuesday up from 147.83 million dollars recorded on Monday.

Meanwhile, at the Investor’s and Exporter’s (I&E) window, the Naira traded between N1,450 and N1,200 against the dollar.

(NAN)



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