Naira gains N73.39, trades at N1,561.76 to dollar

The Naira appreciated greatly on Tuesday, strengthening by N73.39 at the official market to trade at N1,561.76 to the dollar.

This development, reported by the FMDQ Exchange, reflects a 4.48% gain compared to Monday’s trading rate of N1,635.15 per dollar.

The appreciation marks a positive shift in the currency‘s value amidst fluctuating market conditions.

Also, the total daily turnover surged to $253.68 million on Tuesday, more than doubling Monday’s turnover of $126.24 million, indicating heightened activity in the foreign exchange market.

At the Investor’s and Exporter’s (I&E) window, the Naira traded within a range of N1,650 and N1,540 to the dollar.