Naira records gain against the dollar | Ripples Nigeria
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Naira records gain against the dollar

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FOREX: CBN injects N273m into retail secondary market

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.

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