Naira records gain against the dollar

Nigeria’s currency on Tuesday gained 0.34 percent to close at N408.60k per dollar compared to N410.00k closed since two days at the Investors and Exporters (I&E) forex window, data from FMDQ on Tuesday showed.

The gain recorded by Naira in the I&E window, Ripples Nigeria gathered was due to improved liquidity in the market as foreign exchange market turnover rose significantly by 134.63 percent to $123.37 million on Tuesday from $52.58 million recorded on Monday, February 22, 2021.

Read also: Strong demand drives Naira to 480 to a dollar

In the black market, however, Naira remained at N480 per dollar on Tuesday.

At the Bureau De Change (BDC) segment Naira weakened by N1.00k as the dollar closed at N478 on Tuesday as against N477 closed on the previous day.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now