Nigerian Naira Rising In Value On The Official Market

Exchange rate
The Naira Suffers Its Greatest Drop At The Official Window

The naira gained slightly against the US dollar in the official market on Wednesday, after falling in the spot market on Friday last week.

The naira closed at N415.00 to the dollar on Wednesday, up N0.10 or 0.02 percent from the N415.10 rate it traded in the previous session on Friday last week, according to data published by FMDQ, where forex is officially traded.

On Wednesday, the domestic unit reached an intraday high of N405.00 and a low of N446.50 before closing at N415.00 on the dot.

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Forex turnover increased by 29.14% to $119.48 million at the close of trade on Wednesday, compared to $168.62 million in the previous session on Friday last week.