Naira gains strength against dollar by 0.32%

On Friday, the Naira demonstrated strength at the official market, with a trading rate of ₦1,251.05 against the dollar.

Data sourced from the FMDQ Exchange’s official trading platform, overseeing the Nigerian Autonomous Foreign Exchange Market (NAFEM), indicated a gain of ₦4.02, marking a 0.32% increase from Thursday’s trading rate of ₦1,255.07 per dollar.

Notably, the total daily turnover surged to $248.27 million on Friday, a significant rise from the $138.99 million recorded on Thursday.

Meanwhile, at the Investor’s and Exporter’s (I&E) window, the Naira’s trading range against the dollar fluctuated between ₦1,281 and ₦1,220.

It is worth noting that the naira strengthened by N16 or 1.26 percent at the Nigerian Autonomous Foreign Exchange Market, with the dollar quoted at N1,262.85/$ on Wednesday, surpassing the previous rate of N1,278.58/$ recorded on Tuesday.

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