BUSINESS

Naira rebounds, gains N28.15 against dollar

Published

7 months ago

May 1, 2024

Grace Alegba

The Naira on Tuesday closed the month of April on a good footing as it gained N28.15 at the official market, trading at N1,390.96 to the dollar.

Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), revealed that the gain represented a 1.98 per cent appreciation for Naira.

The percentage increase is significant when compared to the previous trading date on Monday, April 29.

The local currency experienced about two weeks steady fall by exchanging at N1,419 to a dollar.

The success story was replicated in the volume of currency traded, as the total daily turnover increased.

The daily turnover stood at 225.36 million dollars on Tuesday up from 147.83 million dollars recorded on Monday.

Meanwhile, at the Investor’s and Exporter’s (I&E) window, the Naira traded between N1,450 and N1,200 against the dollar.

Related Topics:headline

Up Next

MTN, other stocks lift market capitalisation by N196bn gain

Don't Miss

Businesses hit as Sokoto waterboard disconnects big consumers

Grace Alegba

NEWSVERGE, published by The Verge Communications is an online community of international news portal and social advocates dedicated to bringing you commentaries, features, news reports from a Nigerian-African perspective. A unique organization, founded in the spirit of Article 19 of the Universal Declaration of Human Rights, comprising of ordinary people with an overriding commitment to seeking the truth and publishing it without fear or favour. The Verge Communications is fully registered with the Corporate Affairs Commission of the Federal Republic of Nigeria as a corporate organization.