Naira Records Slight Gains Against US Dollar At Forex Market

On Wednesday, the Naira showed a slight improvement against the US dollar in the foreign exchange market.

According to FMDQ data, the Naira experienced a marginal appreciation, reaching N1082.32 against the dollar, though it remained within the 1000 per dollar range.

The domestic currency gained 0.66%, closing at N1082.32 to a dollar, compared to N1,089.51 per dollar on Tuesday.

Additionally, the Naira saw a 0.40% increase in the parallel market, trading at N1240 per dollar. This coincided with a significant 148.95% growth in forex turnover, reaching $242.60 million on the same day.


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