At the official market on Friday, the Naira strengthened and was trading at N1,540.78 to the US dollar. This was an improvement from the previous day’s rate of N1,550. The positive trend was attributed to increased foreign exchange inflows into the market.
The Naira increased by N35.32, according to data from the FMDQ Exchange’s official trading platform, which is in charge of managing the Nigerian Autonomous Foreign Exchange Market (NAFEM).
Compared to the previous trading date on Thursday, Sept. 26, when it traded at N1,576.10 to the dollar, this indicates a 2.24 percent rise.
The total daily turnover was 334.05 million dollars on Thursday; by Friday, it had decreased to 212.31 million dollars.
In the meantime, the Naira fluctuated in value versus the dollar at the Investors and Exporters (I&E) market, moving between N1,691 and N1,530.
