Naira Gains Wide Margin Against Dollar As New Exchange Rate Emerges

The Nigerian Naira saw a notable uptick in value against the US dollar in the official market.

The Nigerian currency traded at N1,459.02 to the dollar. According to data sourced from the FMDQ Exchange’s official trading platform, this marked a significant increase of N61.38.

This surge translates to a 4.04% gain compared to the previous trading session on Tuesday, during which the Naira stood at N1,520.40 against the dollar.

Furthermore, the total daily turnover witnessed a substantial rise, reaching $289.14 million on Wednesday, up from the $128.76 million recorded on Tuesday.

Meanwhile, at the Investor’s and Exporter’s (I&E) window, the Naira exhibited fluctuation, trading within the range of N1,593 and N1,401 against the dollar.