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On Friday, the Naira appreciated in the official market, trading at ₦1,540.78 to the dollar. This marks a notable increase of ₦35.32, equivalent to a 2.24% gain from the previous day’s rate of ₦1,576.10.
Key Highlights:
- Exchange Rate Movement: The Naira’s appreciation is a positive shift in the foreign exchange market.
- Daily Turnover: The total daily turnover decreased to $212.31 million on Friday, down from $334.05 million recorded the previous day.
- I&E Window: In the Investor’s and Exporter’s (I&E) window, the Naira traded between ₦1,691 and ₦1,530 against the dollar.
This recent change reflects the ongoing dynamics in Nigeria’s foreign exchange market as monitored by the FMDQ Exchange, which oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM).