The Nigerian naira closed out the month of April on a positive note, gaining N28.15 at the official market to trade at N1,390.96 against the dollar. This represented a significant 1.98% appreciation for the local currency compared to the previous trading date.
Data from the FMDQ Exchange, which oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), showed that the naira had experienced a steady fall over the past two weeks, exchanging at N1,419 to a dollar before the recent gains.
The volume of currency traded also saw an uptick, with a total daily turnover of 225.36 million dollars recorded on Tuesday, up from 147.83 million dollars on Monday.
At the Investor’s and Exporter’s (I&E) window, the naira traded between N1,450 and N1,200 against the dollar, reflecting continued stability and positive sentiment in the foreign exchange market.
