Naira appreciates further, gains by 3.3%

The naira on Monday further appreciated at the official market, trading at N1,354.21 to the dollar.

Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), showed that the Naira gained N46.19.

This represents a 3.29 percent gain when compared to the previous trading date on Friday, May 3, when it exchanged at N1,400.40 to a dollar.

However, the total daily turnover decreased to 84.83 million dollars on Monday, down from 201.88 million dollars recorded on Friday.

Meanwhile, at the Investor’s and Exporter’s (I&E) window, the naira traded between N1,441.00 and N1,285.00 against the dollar.