Good news as Dollar slumps against Naira at Official Market

the Naira

Naira and Dollar

By Grace Alegba

The Naira on Monday further appreciated at the official market, trading at N1,354.21 to the dollar.

Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), showed that the Naira gained N46.19.

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This represents a 3.29 per cent gain when compared to the previous trading date on Friday, May 3, when it exchanged at N1,400.40 to a dollar.

However, the total daily turnover reduced to 84.83 million dollars on Monday, down from 201.88 million dollars recorded on Friday.

Meanwhile, at the Investor’s and Exporter’s (I&E) window, the Naira traded between N1,441.00 and N1,285.00 against the dollar.

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