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Naira records marginal gain against dollar

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Naira gained marginally against the United States Dollar on Tuesday to close at N409.80/$1, data posted on the FMDQ Securities Exchange showed.

This represents a N0.33 or 0.08 percent gain compared to N410.13/$1 recorded at the beginning of the week.

During trading, investors bided at N393.00 and N412 respectively before closing at N409.80 on Tuesday.

Read also: Nigerian govt announces another currency reform as Naira falls to N486/dollar

Forex turnover at the Importers and Exporters (I&E) window increased by 27.94 percent to $33.11 million from $25.88 million posted on Monday.

However, the black market rate remained unchanged on Tuesday at N486/$1, according to data from Aboki FX.

The difference in the exchange rate at the black market and I&E window is now N76.12.

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