Naira surges at official market, trades N1,468/$

The naira, in a significant development, on Monday gained N28.34 at the official market, trading at N1,468.99 to the US dollar.

Data from the official trading platform of the FMDQ Exchange showed that the gain represented a 1.89 per cent appreciation for the Naira.

The percentage increase is enthralling when compared to the previous trading date on Friday, May 17, 2024, when the local currency traded at N1,497.33 to the dollar.

Also, the volume of currency traded appreciated as the total daily turnover surged to 161.41 million dollars on Monday, up from 83.50 million dollars recorded on Friday.

Meanwhile, at the Investor’s and Exporter’s (I&E) window, the Naira traded between N1,550 and N1,400 against the dollar.