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Naira rebounds, gains N28.15 against dollar



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

Data from the official trading platform of the FMDQ Exchange, which oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), showed that the gain represented a 1.98 percent appreciation for the naira.

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

The local currency experienced a two-week constant fall by exchanging at N1,419 to a dollar.

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

The daily turnover was 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. (NAN)

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