Naira strengthened against the U.S. dollar at the official market on Tuesday.

Data published on the FMDQ website where forex is officially traded showed that the local unit appreciated 0.52 per cent from N431.00 to close at N428.75 to a dollar on Tuesday,

Forex turnover on Tuesday had decreased 1.8 per cent to $113.64 million from $115.67 million recorded in the previous session on Monday.

The naira therefore hovered within an intraday high of N417.00 and depreciated to a low of N444.00 before closing at N428.75 per $1 on Tuesday.
However, the local unit recorded a slight decline at the street market on Tuesday.

Currency dealers at the Uyo black market said they bought the dollar at N667.00 and sold it at N670.00 to a dollar on Tuesday, as against the N663.00 it was exchanged in the previous market session on Monday.

Exchangers at the Abuja parallel market said the dollar was exchanged at N665.00 and sold at N668.00 at the close of business on Tuesday.

Source: Premiumtimes

Leave a Reply

Your email address will not be published.