Naira wraps up April on a high, surges ₦28.15 against Dollar
The Nigerian Naira concluded the month of April with a remarkable performance, surging by ₦28.15 against the dollar to close at ₦1,390.96 on Tuesday, signaling a positive turn in the country’s foreign exchange market. Data sourced from the official trading platform of the FMDQ Exchange, which oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), reveals a notable 1.98% appreciation for the Naira, marking a significant improvement from the previous trading day on April 29, when the local currency stood at ₦1,419 to a dollar.
This upswing in the Naira’s value is accompanied by a surge in the volume of currency traded, with the total daily turnover reaching 225.36 million dollars on Tuesday, a considerable rise from the 147.83 million dollars recorded on Monday.
Similarly, at the Investor’s and Exporter’s (I&E) window, the Naira demonstrated resilience, trading within the range of ₦1,450 and ₦1,200 against the dollar, further solidifying its strong performance in the forex market.
