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  • Business - Your Money
  • Updated: May 28, 2024

Naira appreciates to N1,339 at official market

Naira appreciates to N1,339 at official market

The Naira appreciated to 1,339.33/$ at the close of trading on the official window, gaining 9.68 per cent over Friday’s 1,482.81/$ on Monday.

Data from FMDQ, which houses the Nigerian Autonomous Foreign Exchange Market, revealed that the daily turnover dropped to $180.80m from $556.25m on Friday, indicating a 67.50 per cent decline.

At the official market, the naira traded at an intraday high of N1,501 and an intraday low of N1,310 to the dollar on Monday.

At the black market, the naira traded at N1,520, indicating a 1.32 per cent depreciation from N1,500 exchanged on Friday

On Friday, the domestic currency closed flat against the dollar, ending the week marginally strong at the official foreign exchange market after weeks of weakening.

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