Nigerian currency, the Naira has recorded appreciation against the United States Dollar at the Investors and Exporters (I&E), the Peer-2-Peer (P2P), and the black market segments of the foreign exchange market.
In the I&E market, which caters to largely regulated export activities, the value of the local currency improved against the greenback yesterday by 17 Kobo or 0.04 per cent to N461.50/$1 compared with Monday’s rate of N461.67/$1.
This came as the daily turnover of FX transactions at the market window increased by 149.6 per cent or $70.50 million to $117.63 million from the $47.13 million published a day earlier.
Also, the local currency strengthened against the American currency in the P2P segment of the forex market on Tuesday by N8 to close at N760/$1 versus N768/$1 of the previous session
