Nigerian Naira on Tuesday recorded a 1.16% rise in value against the US Dollar in the Investors and Exporters (I&E) segment of the market, IgbereTV reports
According to data from the FMDQ Securities where naira is officially traded, the Nigerian currency closed Tuesday’s trade at N424.17 to a dollar compared to N429.13/$ recorded as of the close of trading activities in the previous trading session.
Naira’s good performance was largely helped by the 301.3% increase in forex supplied in the official market.
Data shows a total of $383.59 million in FX value was traded on Tuesday, 19th July 2022, an increase compared to $95.58 million that exchanged hands on Monday.
At the black market, traders revealed that the exchange to the dollar dropped to N620/$1 compared to N619.5/$1 recorded in the previous trading session.
While at the peer-to-peer market Naira depreciated further by 0.78% on Wednesday morning to trade at a minimum of N635.1/$1 compared to N630.2/$1 recorded on Tuesday morning
